Manchester United shares rise after Elon Musk's tweet

Elon Musk tweeted that he would buy Manchester United, which reflected positively on the club’s shares on the New York Stock Exchange.

Manchester United shares rise after Elon Musk’s tweet

Manchester United shares rose in the stock market by 5% in the middle of trading sessions, yesterday, Wednesday, after Tesla CEO Elon Musk published a tweet on Twitter saying that he would buy the English club.

But Musk denied what he mentioned in another tweet, and said it was a “joke” and he would not invest in any sports team.

The club’s shares rose on the New York Stock Exchange by 4.77%.

However, the biggest rise was recorded before the Wall Street Stock Exchange blew the whistle of the beginning of trading, as the shares of the ancient English club rose by 17% in the previous electronic operations.

According to the club’s stock market estimate, buying all of Manchester United’s shares would have cost Musk about $2 billion.

“I’m also buying Manchester United. Welcome,” Musk tweeted. Shortly afterwards, he replied to a commenter who wondered how serious this was, and said: “No, this is a long-running joke on Twitter. I will not buy any sports team.”