The club's market value swelled by as much as €7m (£5.5m) as shares rallied by roughly four per cent before regressing just before close.
Over 49 trades were made for 14 shares in Ajax, who are publicly listed on the Euronext stock exchange, briefly sending the club's market value as high as €160m on Thursday.
The club had a market value of €154.6m at the closing bell.
Cruyff played for local club Ajax nearly 300 times across two spells and managed the side for three years between 1981 and 1983.
As a player he led the Amsterdam club to two European championships from 1971 to 1973 and revolutionised the philosophy and structure of the club as manager, laying the groundwork for future success.
He died after a fight with cancer surrounded by family and friends.