The Glazer family may no longer be selling the football club
The shares of Manchester United PLC (NYSE:MANU) are down 18.7% at $19.21 at last glance, as questions arise concerning the football club’s potential sale. Per a report in the Mail on Sunday, the Glazer family may not sell the club after months of positive news surrounding Qatar’s Sheikh Jassim bin Hamad al-Thani’s takeover bid.
Familiar support above $19 is so far keeping today’s pullback in check, though the stock broke below its ascending 200-day moving average. On track for its worst day on record, MANU just slipped below its year-to-date breakeven level.
Manchester United stock is seeing a flood of options activity today. So far, 5,339 calls and 3,375 puts have been exchanged, which is five times the amount typically seen at this point. The December 30 call is the most popular, followed by the October 30 call. Amid the slide, the stock is on the short sell restricted (SSR) list.
The two analysts in coverage are split on MANU, with one carrying a “strong buy” and one a “hold.” Meanwhile, short interest represents 8.5% of the stock’s available float.
Image and article originally from www.schaeffersresearch.com. Read the original article here.