Over €6m has been wiped off Juventus' market value after the Italian champions were dumped out of the Champions League by Bayern Munich in the last 16.
Massimiliano Allegri's side let a 2-0 lead slip in the last twenty minutes in Munich, before the home side surged ahead to win 4-2 (6-4 on aggregate) in extra time.
Shares opened over two per cent down on the Borsa Italiana stock exchange on Thursday morning as investors weigh up the cost of an early exit from the Champions League.
Last season Juve reached the Champions League final, earning €30.9m (£24.4m) in prize money plus a further €58.2m in TV payments.
Juventus have earned €23m in prize money from this season's campaign but an exit at the last 16 stage this season means The Old Lady will miss out on a potential €28m in prize money.