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- 1 MANU stock price was following a bearish market trend since the beginning of this year.
- 2 With not-so-positive quarterly earnings and revenue reports, MANU stock price seems like losing investors’ trust.
Manchester United’s (NYSE: MANU) stock price reflected increased bears’ activity which eventually dropped its share price. By showing a 12.59% price drop, MANU stock price stated its weak year-to-date (YTD) growth. However, more than 76% of price growth was seen in the Manchester United stock price in a year.
Moreover, recently, during the first quarter result, Delta Investment Management LLC, a financial advisory firm, decreased its position in Manchester United’s shares by 21%. As per its most recent SEC filing, Delta Investment Management now owns over 23K shares of Manchester United after selling 6,200 shares during the period.
Out of 49 stocks listed in the movies or entertainment industry, Esports Entertainment Group Inc. (GMBL), MultiMetaVerse Holdings Limited (NASDAQ: MMV) noted over 95% and 86% of the price drop. Additionally, Cineverse Corp. (NASDAQ: CNVS) and FaZe Holdings Inc. (NASDAQ: FAZE) also showed more than 81% and 80% price drops in YTD price analysis, respectively.
In 2022, the revenue of Manchester United reached $709.81 Million. Out of this, nearly $342.67 Million came from its highest-performing source at the moment, “commercial”. However, the U.K. made its greatest contribution to the revenue figure which last year brought Manchester United stock to $775.14 Million.
MANU Stock Price Analysis
As MANU share price has shown a bearish market trend since the beginning of this year, its price is now showing quite positive price movements. At press time, in the pre-market session, MANU stock price showed an upside trend. With this bullish trend, a good week-start can be expected if this trend stays during the trading session. However, last week MANU stock price dropped over 7% with the increased market activity of bears.
Due to the recent upside trend, the RSI of Manchester United stock also started its upside ride. Notably, the last closing price of MANU stock was slightly above its 200-day moving average whereas its pre-market price was nearing the 100-day moving average at press time.
The one-year price target set by analysts is showing at $25.50, up by over 24% from the recent closing price of MANU stock. The maximum price estimate set by analysts is $26.00 while the minimum estimate is $25.00. Moreover, in the last three months, analysts have given a “buy” rating to Manchester United.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
