Manchester United Stock Drops 9% in One Day: Shareholders Blame Rumoured Signing

JimCramer_onesmallvoice

manu

ESPN: The share price of Manchester United suffered a 9% hit in one day, with reports suggesting the club’s rumoured interest in Ezequiel Garay is to blame. United’s shares closed at $15.16 on Wednesday – a decrease of $1.53 from just 24 hours earlier.

The British media was aflurry with stories of United reaching an agreement with Benfica for Garay on Wednesday and it is claimed the rumours impacted share activity, with holders preparing for a £17 million spend from the English champions.

Well that’s gotta be a pretty shitty feeling for Ezequiel Garay. Literally lost hundreds of thousands for investors around the world because they all think you’re shite. Ouch. Apparently shareholders we’rent too fond of recent rumours that United planned on signing the Benefica defender, so much so that it triggered a SELL OFF on the New York Stock Exchange. Thank’s bro, you lost me $50.15 in my Fidelity Rollover IRA and I fully plan on coming after you for it. Now, there are certainly others out there who lost more than me, particularly the Glazer family.

With all of that said, the recent drop in the stocks price will most likely encourage others who were waiting on the sidelines to jump in, and already today the stock is up over 3% so it looks as though things will be back to normal shortly. So if I were you….

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