Manchester United stock price slumps as bidders await Glazers takeover decision

Manchester United plc (MANU) stock has decreased in price by around five per cent this week as uncertainty surrounds the next stage of the club's takeover process.

After reaching a month-long high at over $25 on Wednesday, March 22, which was the date of Raine's last deadline for official offers to acquire United, shares have not exceeded $23 since markets opened on Monday with the price plummeting from $23.50 to as low as $22 in the space of three-and-a-half hours.

The price recovered since then, culminating in stock reaching the cusp of $23 on Friday morning before dropping to a nadir of $22.17 within two hours. With such fluctuations, United stock will likely be down on the previous price when markets close for the weekend.

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Overall, shares are up more than 7 per cent across March. The outlook since last autumn is also particularly positive. The stock was worth only $13 before the Glazers announced they were putting the club up for sale, with prices rising to around $22 within days. A 68.61 per cent increase has taken place over the past four months.

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