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

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

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.

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.

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.

[Marketwatch]

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