Hedge Funds

Manchester United short-sellers book $17m in profits after stock suffers biggest single-day drop

The football club’s US owners are reportedly taking it off the market, causing shares to drop 20%

Manchester United's owners have been looking for a new buyer since the start of the year
Manchester United's owners have been looking for a new buyer since the start of the year Photo: David Goddard/Getty Images

Short-sellers made millions as Manchester United shares suffered their biggest drop in the football club's history.

Short-sellers booked a little over $17m in gains on 5 September amid a 20% plunge in Manchester United shares, according to financial analytics provider ORTEX.

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