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

Amaya CEO David Baazov is hoping to laugh his solution to the bank after acquiring 60,000 shares of his own company’s stock at what he considers a bargain cost after a stock drop.

David Baazov happens to be called the ‘King of Online Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to show his business savvy and managing regarding 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 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 accountable for 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 %, the Canadian CEO purchased 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 picking by capitalists looking 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 Full Tilt Poker platforms, it commands about 70 percent of the market,’ Smith writes on the investing websi Read more »