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March 28, 2019, 2:37 p.m. EDT

Manchester United's stock gains after Solskjaer named full-time manager

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By Tomi Kilgore

Shares of Manchester United Ltd. /zigman2/quotes/205140601/lastsale MANU +2.71% edged up 0.3% in afternoon trade, reversing earlier losses of as much as 0.6%, after the England-based soccer team named Ole Gunnar Solskjaer as its full-time manager. Solskjaer had been named caretaker manager Dec. 19, a day after the club said previous manager Jose Mourinho had left the club, following a disappointing start to the season. As the team's fortunes improved with Solskjaer in charge, so did the club's stock, as it has gained 7.3% since Solskjaer was named interim manager, with the team amassing more Premeir League points than any other club during the time Solskjaer was in charge. Prior to Mourinho's sacking, the stock had tumbled 34% since the end of August, closing at week before the sacking at the lowest price since September 2017. Solskjaer had played for Man U between 1996 to 2007, had also managed the club's reserve team in 2010. Man U's stock has gained 5.4% over the past 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.00% has tacked on 7.9%.

/zigman2/quotes/205140601/lastsale
US : U.S.: NYSE
$ 15.53
+0.41 +2.71%
Volume: 6,178
April 9, 2020 9:55a
P/E Ratio
90.83
Dividend Yield
1.17%
Market Cap
$2.49 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
2,805.01
+55.03 +2.00%
Volume: 526.90M
April 9, 2020 9:55a
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