How Man Utd got richer in stock market

English soccer club Manchester United is now richer in the New York Stock Exchange with a boom in the day’s listing.

The club’s stock value hit a $27.70 high representing more than 10 per cent gain of its initial value.

Record has it that Manchester United were first listed on the New York Stock Exchange in August 2012, while on the London Stock Exchange came in June 1991.

It has been gathered that the club’s stock price has been gaining around 33 per cent since the beginning of August.

This now gives the Red Devils a market capitalization of $4.59 billion, making them one of the richest in the English Premier League.

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Manchester United is second to the National Football League’s Dallas Cowboys whom the Forbes magazine rates as the world’s most valuable sports franchise with a market value of $4.8 billion.

The development has however not stopped the Jose Mourinho’s men from struggling this season with just a win in three games so far.

Financial analysts who explain United’s exploit at the stock market said the development comes as a result of lots of demands from investors in the market.

The club will also be interested in seeing the success in the stock market replicated on the pitch as they seek for better results.