Elections deal a major blow to Gülenist market

ISTANBUL — As the AK Party continues to show no signs of slowing down and gained strength while taking the local elections by storm, the Gülenist's market took a major blow. Sharpshooters for the Gülen Movement, Akin İpek's companies and the Taraf newspaper plummeted in the stock market. Bank Asya and the Doğan Group's shares also took a nose dive a day after the AK Party swept the elections.

The groups who attempted to redesign politics with the Dec. 17, operations and bring down the ruling party, saw a collapse in the stock market after the AK Party was triumphant in the local elections. The Gülen Movement and the groups close to them who tried to go into a war of power against the government lost miserably not only in the voting booths but also in the stock market.

Bank Asya shares lost 7.84%. Taraf newspaper saw a decline of 7.98%. Hürriyet newspaper saw losses of up to 5% and ultimately ended the day with a 3.39% loss. Doğan began with a 4% loss and ended with a decline of 1.96%. Ciner Group lost 0.56% at the end of the day.

After another successful election, Prime Minister Erdoğan addressed the nation in a balcony speech that is becoming a trademark for Erdoğan. He said, "There can't be a government inside of a government," taking aim at the Gülen Movement. Since the Dec. 17 operations Koza Altın (Koza Gold) lost 46.7% in the stock market and Koza Anadolu Metal took a loss of 42%. On Dec. 16, Koza Altın was valued at TL4.9 billion, where today its value has dropped down to TL2.8 billion.