One of the oldest stock market tips is to follow the insiders, so now could be the time to buy Amaya’s shares. David Baazov, chairman and chief executive, has acquired 110,000 common shares in the company that owns PokerStars. He has been joined by Marlon Goldstein, executive vice president and newly appointed CEO, Rafi Ashkenazi.

The total investment of all three amounts to CAN$3.3m.

The shares have fallen 42% over the last year and the Canadian dollar is down 15% against the USD. So if the buyers are holding USD the shares are a further 15% cheaper.
Whatever, this is a big purchase and demonstrates confidence in the company. All that is required now is that the launch of new products and some clarity on grey markets and happy days are here again.

By Warwick Bartlett