After the sacking of the ‘unpopular’ Manchester United head coach Jose Mourinho, under whom the club underwent one of their worst -runs in Premier League history in the current season, the club’s share price increased by approximately six per cent.
Mourinho has been at the receiving end of scrutiny and flak following a poor string of poor results at the club. After suffering a humiliating 3-1 defeat to arch-rivals Liverpool, the club released the statement on Tuesday which revealed that the Portuguese has left the club with immediate effect.
On Monday the share closed at 17.30 US dollars (£13.65), and the price rose to 18.39 (£14.51).
The reason for Manchester United’s fluctuating shares is their disappointing season. Despite heavy investment during the summer and January transfer window of 2019, the club are currently placed in the sixth position, 19 points behind league leaders Liverpool.
The shares which rose to 27.20 dollars (£21.47) on August 27 plummeted from 22 per cent to 21.12 (£16.67) by October 1.
The shares saw a further plunge during Manchester United’s four games unbeaten run, dropping to 17.25 dollars (£13.64) last week.
On Wednesday, Manchester United announced on Wednesday the signing of former club striker and legend Ole Gunnar Solskjær as the interim manager till the end of the 2018/19 season.