Manchester United’s share price has risen to it’s highest level since the departure of Sir Alex Ferguson 11 months ago. The surge came after the club announced the sacking of David Moyes yesterday.
The club’s share price opened at $17.90, soon rising to $18.00 during the first hour of trading on the New York Stock Exchange.
An hour and a half later, the share price had reached $18.10, and minutes later it rose to $18.15.
But it didn’t stop there after two hours shares were selling for $18.33. And 30 minutes later, they had leaped up once again, to $18.60.
The shares had slumped in value to 17.72 on Monday amid unconfirmed reports that Moyes was set to be fired.
Manchester United eventually released a short statement at 8.30am on Tuesday morning saying: “Manchester United has announced that David Moyes has left the club. The club would like to place on record its thanks for the hard work, honesty, and integrity he brought to the role.”