Ajax Shares Slump After Champions League Exit
Ajax shares have slumped by 20% after losing to Tottenham in the semi final of the Champions League on Wednesday night leading to their exit.
The drop wiped 162 million euros ($181 million) off of the Dutch soccer team’s market value.
Ajax’s stock surged by more than 50%, from around 16 euros to 25 euros, during its remarkable Champions League run.
The young team built a reputation as a giant-killer after eliminating Real Madrid and Juventus in the round of 16 and quarter-finals .
The club’s departure from the Champions League means it will now miss out on additional publicity which could have drawn investment, talent, and lucrative commercial deals to the club and financial rewards.
Ajax had one foot in the final of the European soccer competition after they were leading Tottenham 2-0 in the first half of the second leg.
But an astonishing comeback from Spurs following a hat-trick by Lucas Moura in the second half secured the passage of the North London side to the final.