Amaya CEO David Baazov is hoping to laugh his solution to the bank after acquiring 60,000 stocks of his or her own company’s stock at what he considers a bargain price after a stock drop.
David Baazov is called the ‘King of on the web Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to show his business savvy and managing for the poker network that is largest into the world will translate to big gains on Wall Street.
After Amaya slashed its 2015 earnings that are economic on the heels of a stronger United States buck, 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 responsible for a 13 percent revenues cutback projection.
Baazov is not fazed, and it is out to prove investors incorrect. Just two days after Amaya stock fell 30 %, the Canadian CEO bought 60,000 common shares on the Toronto Stock Exchange at CA$20.30 ($15.22) per share for a transaction total of $912,798.
Fools Rush In
Several market analysts agree with Baazov that Amaya is ripe for selecting by capitalists looking for an improvement stock with considerable potential. One of 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 per cent of the market,’ Smith writes o Continue reading Amaya CEO David Baazov is Bullish on Business’s Stocks, Snaps Up Paper Following Price Drop