Amaya CEO David Baazov is hoping to laugh their option to the bank after acquiring 60,000 stocks of his or her own company’s stock at what he considers a bargain cost after a stock drop.
David Baazov happens to be 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 associated with largest poker community 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 US 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 in charge of a 13 percent revenues cutback projection.
Baazov isn’t fazed, and is out to prove investors incorrect. Simply 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 the deal total of $912,798.
Fools Rush In
Several market analysts agree with Baazov that Amaya is ripe for picking by capitalists searching for an improvement stock with considerable potential. Those types of experts is Nelson Smith, a writer for The Motley Fool in Canada.
‘Between its PokerStars and Full Tilt Poker platforms, it commands about 70 per cent of the market,’ Smith writes on the i