Manchester United plc (MANU) stock has decreased in price by around five per cent this week as uncertainty surrounds the next stage of the club's takeover process.
After reaching a month-long high at over $25 on Wednesday, March 22, which was the date of Raine's last deadline for official offers to acquire United, shares have not exceeded $23 since markets opened on Monday with the price plummeting from $23.50 to as low as $22 in the space of three-and-a-half hours.
The price recovered since then, culminating in stock reaching the cusp of $23 on Friday morning before dropping to a nadir of $22.17 within two hours. With such fluctuations, United stock will likely be down on the previous price when markets close for the weekend.
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Overall, shares are up more than 7 per cent across March. The outlook since last autumn is also particularly positive. The stock was worth only $13 before the Glazers announced they were putting the club up for sale, with prices rising to around $22 within days. A 68.61 per cent increase has taken place over the past four months.
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