Amaya CEO David Baazov is hoping to laugh their way to the bank after acquiring 60,000 shares of his own company’s stock at what a bargain is considered by him price after a stock drop.
David Baazov has been called the ‘King of on line Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to show his business savvy and managing associated with the poker network that is largest in the world will translate to big gains on Wall Street.
After Amaya slashed its 2015 economic earnings forecast on the heels of a stronger US dollar, shares of the company plummeted on both the Toronto and NASDAQ stock exchanges.
Investors fled the gaming conglomerate, fearing the strengthening currency that is americann’t the only culprit in charge of a 13 percent revenues cutback projection.
Baazov is not fazed, and it is out to prove investors incorrect. Simply two days after Amaya stock fell 30 percent, the Canadian CEO bought 60,000 shares that are common the Toronto Stock Exchange at CA$20.30 ($15.22) per share for a deal total of $912,798.
Fools Rush In
Several market analysts agree with Baazov that Amaya is ripe for choosing by capitalists searching for a rise stock with considerable potential. Among those experts is Nelson Smith, a writer for The Motley Fool in Canada.
‘Between its PokerStars and Comprehensive Tilt Poker platforms, it commands about 70 percent of the market,’ Smith writes on t Continue reading