Champions League Elimination Costs Juventus Stock Up To €400 Million
It was a shocking night for Juventus yesterday as they were knocked out by outsiders Ajax in the UEFA Champions League quarter final. Investors seemed to be also very stunned by Ajax's performance as the shares of Juventus Football Club S.p.A. declined drastically on Wednesday. Story via Bloomberg.
Juventus Football Club S.p.A. Fall By As Much As 24 Percent
Shares of Juventus Football Club S.p.A. plummeted as much as 24 percent Wednesday. Juventus stock lost about 400 million Euro ($453 million) market value at its low. It was the biggest decline since the stock started trading in December 2001,
via @EmilioSansolini
Meanwhile, the Amsterdam-based club’s stock soared. Ajax jumped 8.5 percent to 18.60 Euro at 12:10 p.m. in Amsterdam, valuing the company at 341 million Euro.
Ajax now has the chance to boost its annual revenue by more than a third. Reaching the semis has earned it an added 12 million Euro in prize money, with another 19 million Euro potentially up if the team progresses further.
Ajax had adjusted revenue of about 92 million Euro in 2018, less than a fifth of that earned by Juventus, according Bloomberg.
Currently, the Juventus stock is down 15%, which means that Juventus is currently worth around 1.4 billion Euro. This means that Juventus shares remain up about 60 percent since the Ronaldo signing was announced in July.
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