Manchester United Stock Soars on the news of Qatari Bid

Feb 8, 2023 thejournalbiz

Manchester United stock is running wild today, premarket!

Mostly buoyed by speculation that Qatari investors could bid for the British soccer club.

Shares recently stood a record 18% higher than premarket today!

Tweet on UTD stocks

Manchester United stock jumped premarket, buoyed by speculation that Qatari investors could bid for the British soccer club, via @FactSet #ManchesterUnited #shares pic.twitter.com/ussm0a15tl

— The_Journalbiz (@the_journalbiz) February 8, 2023

FactSet chart on Man.Utd stock

If the gains hold, the stock would record the second-best daily performance in its more than decade-long trading history.

The jump came after the British tabloid the Daily Mail reported that Qatari investors are eyeing Manchester United, and an offer is expected in the coming days.

Last year, Manchester United’s American owners, the Glazer family, said they were exploring a sale, sending the stock surging. It has since fallen, losing 9.5% this year through Tuesday, compared to a more-than 8% gain for the S&P 500. It closed Tuesday with a market capitalization of more than $3.4 billion.