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Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop

Wednesday, February 26th, 2020

Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop

Amaya CEO David Baazov is hoping to laugh his method to the bank after acquiring 60,000 shares of their own company’s stock at what a bargain is considered by him cost after a stock drop.

David Baazov was called the ‘King of Online Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to prove his business savvy and managing of the largest poker system into the world will translate to big gains on Wall Street.

After Amaya slashed its 2015 economic earnings forecast on the heels of a stronger United States dollar, shares of the company plummeted on both the Toronto and NASDAQ stock exchanges.

Investors fled the gaming conglomerate, fearing the strengthening American currency wasn’t the only culprit accountable for 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 transaction 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. 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 percent of the market,’ Smith writes on the investing website. (more…)