Juventus’ shares are soaring after Cristiano Ronaldo’s hat-trick took the team into the final 8 of the Champions League

Photo by MARCO BERTORELLO/AFP/Getty Images

Cristiano Ronaldo’s hat-trick against Atlético Madrid has sent Juventus’ shares up 17%.
Ronaldo’s three goals for Juventus meant the Italian club overturned a two-goal deficit and secured passage to the last eight of the Champions League.
Juventus shares fell 11% after the first-leg defeat, but have rallied on the unlikely victory sending the club into the quarter finals.

Cristiano Ronaldo jumped to score two of his three goals against Atlético Madrid on Tuesday night, overturning a two-goal deficit to secure Juventus’s passage into the quarter finals of the Champions League.

Shares in Juventus have followed the forward’s example, soaring 17% on the unlikely revival of the Italian soccer team’s fortunes.

The Portuguese striker may be past his prime, but he successfully snatched victory from the jaws of defeat in Turin. Similarly, shares in Juventus plunged 11% after the disappointing first leg against Atlético – as investors feared the team were out of Europe’s premier club competition and would miss out on revenues from the later stages – only to rise again.

Juventus’ comeback clearly shocked investors as well as viewers. The share-price jump may reflect market optimism that Ronaldo hasn’t lost his touch, and can sell plenty more shirts for the club.

Shares in Juventus rose a massive 95% in the days after it signed Ronaldo last summer, lifted by hopes that the former Real Madrid man could fire the "Bianconeri" to Champions League success. Despite Ronaldo’s improved form, they currently trade at €1.43 ($1.62), down from around €1.57 last September when his signing was announced.

The superstar’s arrival at Italy’s most successful domestic club was heralded as the team’s ticket to winning the Champions League, having lost in five previous finals. According to reports, 520,000 shirts were sold in just 24 hours after his signing — approximately $62.4 million worth of trade. Juventus also recently sold €150 million of bonds ($169 million) to cash in on its new striker.

Ronaldo’s hat-trick might be a flash in the pan, and Juventus could well crash out of the quarter-finals. But for now, investors and fans appear to be keeping the faith.

NOW WATCH: Scientists completed one of the most detailed explorations inside the Great Blue Hole. Here’s what they found at the bottom of the giant, mysterious sinkhole.

Source: Business Insider – tmohamed@businessinsider.com (Theron Mohamed)