Shares in Italian club Juventus fell more than 17 percent in early trading on Wednesday after Cristiano Ronaldo's side were knocked out of the Champions League quarter-finals by Ajax.
Juventus shares were down 17.7 percent at 1.39 euros at 0730 GMT after plunging nearly 21 percent when trading in Milan began.
Ajax shares, meanwhile, spiked 8.4 percent at 1.45 euros.
READ | Juventus was scared of Ajax, says Ten Hag
Shares in the Turin-based club had risen sharply last year following the signing of Ronaldo from Real Madrid.
Juventus signed the Portuguese star for a transfer fee of 100 million euros hoping for a replication of the success he had in his last three seasons at Madrid.
A young Ajax team stunned 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 on Tuesday.
The defeat halted Ronaldo's bid for a sixth Champions League title.
READ | I'll stay at Juventus despite Champions League exit, says Massimiliano Allegri
Juventus has won the Italian league title seven times in a row, but has never managed to win the “treble” of the domestic league, Italy's cup competition and the Champions League.
Inter Milan is the only Italian club to have achieved such a feat, under coach Josş Mourinho in the 2009-2010 season.
Juventus, which has already been knocked out of the domestic cup competition this season, missed the chance to clinch an eighth consecutive Serie A title on Saturday after a surprise 2-1 defeat at SPAL.
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