Yahoo Finance Live anchors discuss the rise in stock for Manchester United amid reports of a historic sale.
BRIAN SOZZI: All right, from "Alf" to sports. Shares of Premier League club Manchester United in focus, as they are still moving on reports from earlier this week that owners, the Glazer family, are exploring financial options that could include an outright sale of the team. And one thing that caught my attention here, Jared, the British tabloid "The Daily Star," reporting that Apple CEO Tim Cook is keen to explore opportunities with this.
I don't quite understand the tie-in. But again, Apple is sitting on mountains of cash. So if they're not going to make automobiles, why not buy a soccer team?
JARED BLIKRE: Well, I mean, it's a huge status thing. I don't know that I want to paint Tim Cook necessarily with this brush. But we've seen the billionaires, how they are attracted to sports teams. If he's passionate about football-- or excuse me soccer. We're gonna see who wins that game later today.
If he's passionate about that, maybe there's an interest there. I don't know how strategic it is. I'm not seeing it immediately myself. But hey, if you got the money, you got the cash pile, maybe?
BRIAN SOZZI: Yeah, no, it makes sense here. And really, it goes to show you just how bad this team has been doing in recent years. You know, the market's cap of this company was nowhere near $5.7 to $6 billion, you know? It was under-- it was under a lot of pressure here.
JARED BLIKRE: Yeah, I'm looking at the YFi Interactive here. And this is a max chart. This goes back to about 2012, 2013. What stands out to me is except for this big spike up that we had in 2018, 2019, this is a remarkably sideways trending stock. And I think it was only two days ago, two sessions ago, that we got most of this distance traversed.
Here's a three month view so we can see-- yeah. Basically, most of the recent gains were made over just a handful of trading days. And we were just back up to the upper end of the range. So absent another catalyst, probably eventually there will be one, probably just gonna chop around up there. So we'll have to see what comes up from that.