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

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

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

David Baazov has been 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 for the poker network that is largest in the globe 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 US currency ended up beingn’t the only culprit in charge of a 13 percent revenues cutback projection.

Baazov is not fazed, and it is out to prove investors wrong. Just two days after Amaya stock fell 30 percent, 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. 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 % of the market,’ Smith writes on the investing website. ‘ T Read More →