Manchester United Shares Fall Sharply on David Moyes Reports, but Recover Fast

Mark PattersonUK Staff WriterApril 21, 2014

Manchester United's manager David Moyes looks on ahead of their English Premier League soccer match against Newcastle United at St James' Park, Newcastle, England, Saturday, April 5, 2014. (AP Photo/Scott Heppell)
Scott Heppell

Manchester United have made no comment on reports that manager David Moyes is to be sacked imminently, but volatility in their share price could force their hand.

BREAKING: Manchester United refuse to deny reports that David Moyes is to be sacked as manager. More soon

— MEN Sport (@MENSports) April 21, 2014

The Red Devils are listed in New York, which opened for business shortly after the reports emerged.

From a value of $17.86, they slipped almost 2.5 per cent in value down to $17.47 at the point of opening.

Pretty sharp drop in $MANU shares on the New York Stock Exchange as the Moyes news takes hold

— Gavan Reilly (@gavreilly) April 21, 2014

But from there, perhaps reflecting the fact that fans and stockholders have lost confidence in the Moyes era, the share value began to creep slowly back upward.

Recovery in $MANU shares now - now down only 0.6% so far today

— Gavan Reilly (@gavreilly) April 21, 2014

One thing the markets hate is uncertainty, so United are unlikely to be able to hold off on announcement for long if they have already made their decision.