Juventus shares drop after crashing out of Champions League
Shares in European football giant Juventus fell more than 17 per cent after the club crashed out of the Champions League.
Around £245million was wiped off the value of Italy’s most successful club as investors reacted with shock to its exit in the quarter-finals.
On a dramatic night in Turin, Juventus lost 2-1 to Ajax Amsterdam, taking the Dutch club through to the semi-final 3-2 on aggregate.
Juventus, whose star-studded team includes Cristiano Ronaldo, were hot favourites to progress in Europe’s premier club competition
Juventus, whose star-studded team includes Cristiano Ronaldo, were hot favourites to progress in Europe’s premier club competition.
The team have won the trophy twice, in 1985 and 1996, and were finalists as recently as 2015 and 2017.
Shares hit a record high of €1.71 in the days leading up to the game with Ajax, valuing Juventus at £1.5billion, as investors bet on a victory. But they closed at €1.39, valuing it at £1.2billion.
Shares in Ajax rose 9 per cent to an all-time high of €18.70, valuing the club at £295million.
Victory in Turin for Ajax followed the defeat of last year’s winners, Real Madrid, in the previous round.