Juventus shares plunge over 20% after UEFA Champions League exithttps://indianexpress.com/article/sports/football/juventus-ajax-share-price-champions-league-5680276/

Juventus shares plunge over 20% after UEFA Champions League exit

Juventus' share value dropped on the Milan stock exchange following their stunning exit at the hands of Ajax in the second leg of the UEFA Champions League.

Juventus' Cristiano Ronaldo reacts after defeat to Ajax
Juventus share price spiked following their big money signing of Cristiano Ronaldo from Real Madrid. (Source: Reuters)

Shares of Italian football club Juventus dropped 22% from the overnight close on the Borsa Italiana Stock Exchange following their UEFA Champions League exit at the hands of Dutch club Ajax. While that of Ajax rose 10% following their surprising 2-1 win in the second leg and 3-2 on aggregate.

Shares in Juventus, listed on the Italian stock exchange, closed at 1.69 euros on Tuesday evening. They opened at 1.32 euros a share for a drop of 22% at 12.45 PM IST (9.15 AM local time), as per Bloomberg.

Ajax, meanwhile, had closed at 17.15 euros on Tuesday and opened at 18.90 euros on Wednesday morning at 12.30 PM IST (9 AM local time) for an upward jump of 10.20%.

Just a day earlier, on Monday, Juventus’ share had hit a record high on the Milan stock exchange at close of business. Shares rose by 2.19% to 1.706 euro at close of business on Monday, beating the previous record of 1.672 euro achieved on September 19.

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Shares in the Turin-based club had risen sharply last year following the signing of Cristiano Ronaldo from Real Madrid. Before Ronaldo’s signing, shares had been trading at around 0.6 euro in mid-May, jumping to 1.8 euro during the session on September 20, before dipping slightly following rape allegations against Ronaldo in the United States.

Ronaldo, 34, was signed for 100 million euros last summer, and earns an annual 31 million-euro salary.

A young Ajax team shocked Juventus to reach the Champions League semi-finals for the first time since 1997 as Matthijs de Ligt’s second-half header secured a 2-1 second-leg victory in Italy. The defeat halted Ronaldo’s bid for a sixth Champions League title and meant he missed a Champions League semifinal appearance after eight years.

Juventus, the most successful football club in Italian football history, made its debut on the Milan stock exchange in December 2001.