After ten months at the helm of Manchester United, David Moyes was dismissed on Tuesday. Despite succeeding Sir Alex Ferguson, Moyes struggled to lead the Reds Devils to the top of the Premier League table or qualify them for the Champions League semi-finals, resulting in poor performances that affected the club’s reputation.
Interestingly, immediately following Moyes’ dismissal, Manchester United’s shares on the New York Stock Exchange, where the club is listed, saw an increase. British media reported that the formal announcement of Moyes’ departure caused the club’s shares to rise from 17.72 to 18.60 USD within just two hours of the stock market opening. This surge marked the highest point since Sir Alex Ferguson’s departure in May 2013.
It’s worth noting that 5.5% of the club’s shares are listed on the American market, with 57% of them currently held by the investment company Baron Capital.
Tags: David Moyes, shares, Manchester United, Premier League, stock market
