Does the market think it’s going to B? Colo Colo scores heavy losses in the Stock Market in the previous crucial match with U. de Concepción

Colo Colo fans pose next to the ghost of the B in the Monumental.  Photo: Agencia Uno.

© Javier Vergara
Colo Colo fans pose next to the ghost of the B in the Monumental. Photo: Agencia Uno.

While waiting for the crucial match this afternoon between Colo Colo and the University of Concepción, in which the team that will descend to First B will be defined, there were already some movements in the market.

On the day of what could mark the first time the albos reach that position, stocks scored a sharp drop.

The papers of Blanco y Negro, the concessionaire in charge of the administration of the football club, closed with a decline of 5.6% to $ 165.20 on the Santiago Stock Exchange.

Although their titles are of low liquidity, the action of the popular club did not show variations after the tie with O’Higgins -party that led him to play the momentous match today-, however within hours of gambling his permanence in the first division there were transactions for $ 6 million, scoring a session minimum of $ 165 and a maximum of $ 167.

Black year

With today’s loss, the shares of Colo Colo accumulate a decline of 6.36% so far this year, after closing 2020 with a decrease of 0.88%.

This occurs in a context of high uncertainty regarding how the club’s finances could be affected if they lose their tenure in the first division. There is already a debate regarding some impact from television rights income, in addition to the uncertainty of the outlook in terms of sponsors.

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