Amaya CEO David Baazov is hoping to laugh their method to the bank after acquiring 60,000 shares of their own company’s stock at what he considers a bargain cost after a stock drop.
David Baazov was called the ‘King of on the web Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to prove his business savvy and managing of this largest poker system in 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 accountable for a 13 percent revenues cutback projection.
Baazov is not fazed, and it is out to prove investors wrong. Simply two days after Amaya stock fell 30 %, the Canadian CEO purchased 60,000 shares that are common 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 choosing by capitalists searching 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 Full Tilt Poker platforms, it commands about 70 % of the market,’ Smith writes on the investing website. Continue reading “Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop”