Elon Musk tweeted that he would buy Manchester United, which reflected positively on the club’s shares on the New York Stock Exchange.
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Manchester United shares rise following Elon Musk’s tweet
Manchester United shares rose in the stock market by 5% in the middle of trading sessions, yesterday, Wednesday, following Tesla CEO Elon Musk published a tweet on Twitter saying that he would buy the English club.
But Musk denied what he mentioned in another tweet, and said it was a “joke” and he would not invest in any sports team.
The club’s shares rose on the New York Stock Exchange by 4.77%.
However, the biggest rise was recorded before the Wall Street Stock Exchange blew the whistle of the beginning of trading, as the shares of the ancient English club rose by 17% in the previous electronic operations.
According to the club’s stock market estimate, buying all of Manchester United’s shares would have cost Musk regarding $2 billion.
“I’m also buying Manchester United. Welcome,” Musk tweeted. Shortly followingwards, he replied to a commenter who wondered how serious this was, and said: “No, this is a long-running joke on Twitter. I will not buy any sports team.”
Also, I’m buying Manchester United ur welcome
— Elon Musk (@elonmusk) August 17, 2022