Why Manchester United's Stock Is Trading Higher Today

Manchester United PLC MANU shares trading higher Friday after the company confirmed an agreement with Cristiano Ronaldo to rejoin the team.

Manchester United reached the agreement for the transfer of Ronaldo with Juventus, subject to agreement of personal terms, visa and medical.

Ronaldo has won over 30 major trophies during his career, including five UEFA Champions League titles, four FIFA Club World Cups, seven league titles in England, Spain and Italy. Ronaldo also won the European Championship with Portugal.

Manchester United operates a professional football club together with related and ancillary activities. It manages the team and all affiliated club activities of the Manchester United Football Club, which includes the media network, foundation, fan zone, news, sports features and team merchandise.

MANU Price Action: Manchester United has traded as high as $20.22 and as low as $13.28 over a 52-week period.

At last check Friday, the stock was up 6.60% at $18.42.

Photo by Paul from Flickr.