Manchester United have had a miserable season when it comes to action on the field and this seems to have translated off the field as well as their share prices in the stock market have taken a massive hit.
The club’s shares are listed in the New York Stock Exchange and saw £300m wiped off from their value. The share prices saw a drop off of 8.68 per cent on Tuesday. Before Tuesday, the share prices were listed as $19.92 pers share but after a volatile day, they dropped off to $18.19 at the end of the day. This is the lowest which United’s stock prices have fallen since October 2018.
The Glazer family though are relaxed as they believe that the major drop off in prices was a result of a volatile day in the stock market where almost every major company saw a big drop off in the share prices.
But one has to take into consideration that United are not a club which are in a happy place right now. The performance of the first team squad on the pitch has been nothing short of turgid with many fans of the team left disgruntled by manager Jose Mourinho as well as CEO Ed Woodward.
While some fans have lambasted Mourinho for his defensive brand of football and failure to get the best out of the clubs young attacking players, Ed Woodward has been blasted for his underperformance in the transfer market. Mourinho has also been criticized by some supporters for his lack of man management skills. This has led to United languishing in 8th in the Premier League table, 12 points behind league leaders and their biggest rivals Manchester City.
This has certainly left a poor reflection of Manchester United as a brand all over the globe the major drop off in stock prices speaks for the shambolic state the club finds itself in.