Latest news for AFC Ajax (OTC:AFCJF) Stock

AFC Ajax NV operates a football club. It also owns and operates a football stadium. The company through its online shop offers items such as football kits and training items. It derives revenue from selling television and merchandising rights and advertising.

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English Premier League team Manchester United (NYSE: MANU) is widely recognized as one of the top football — or soccer — teams in the world. The owners could be ready to sell and public shareholders could win big.

Here&#39;s How Much Manchester United Stock Could Be Worth In Potential Sale

TWTR

The world’s richest person created a stir in the sports world when he tweeted that he would be buying one of the most valuable and recognizable soccer teams in the world.

Elon Musk Is Not Buying Manchester United But The Team Could Still Be For Sale

AFC Ajax NV

QMMM

QMMM Shares Resume Trade

Nano Labs Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) shares rose on Friday after the company launched its second-generation<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> V Series crypto mining products.</a>
Powered by the advanced Cuckoo 3.0 chips, the V2, V2H, and V2X models set new benchmarks for performance and energy <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42136093/nano-labs-launches-second-generation-v-series-with-5x-power-efficiency-boost" rel="noreferrer noopener">efficiency in the crypto-mining industry.</a>
The V2H and V2X models deliver nearly four times the computing power of their first-generation counterparts, significantly enhancing power efficiency.
This makes the V2 Series one of the most efficient mining solutions on the market. In addition to performance improvements, the V2 Series features upgraded hardware, enhanced heat dissipation systems, and better resistance to high temperatures, ensuring more stable and cost-effective operation.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/econ-s/24/11/42138717/dollar-hits-2-year-highs-as-europes-recession-signals-spark-euro-pound-sell-offs" rel="noreferrer noopener"> Dollar Hits 2-Year High As European Recession Fears Hammer Euro, Pound</a>
Nano Labs, which began crypto mining chip design in 2022, initially launched the B1L product featuring the Darkbird 1.0 chip for BTC mining. This was followed by the first-generation V1 Series, powered by the Cuckoo 2.0 chip for ETH mining.
Recently, on November 18, Nano Labs received a notification letter from the Listing Qualifications Department of Nasdaq indicating that it has regained compliance with the <a target="_blank" href="https://www.benzinga.com//node/42075274" rel="noreferrer noopener">minimum bid price requirement.</a>
Also, earlier this week, Nano Labs revealed its intention to allocate some excess liquidity to Bitcoin and hold it as a <a target="_blank" href="https://www.benzinga.com//node/42034251" rel="noreferrer noopener">long-term strategic reserve asset.</a>
Price Action: NA shares are trading higher by 52.9% to $6.68 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42124676/november-small-cap-surge-could-carry-into-decembers-santa-rally-historical-trends-suggest" target="_blank" rel="noreferrer noopener">November Small-Cap Surge Could Carry Into December's Santa Rally, Historical Trends Suggest</a></li>
</ul>

Equities

Markets

Chinese Fabless Integrated Circuit Company Nano Labs Stock Skyrockets With New V Series Launch: Details

<a href="https://www.bloomberg.com/news/articles/2024-11-22/facebook-appeal-over-shareholder-suit-dropped-by-supreme-court">https://www.bloomberg.com/news/articles/2024-11-22/facebook-appeal-over-shareholder-suit-dropped-by-supreme-court</a>
&nbsp;
The US Supreme Court dismissed an appeal by <a href="https://www.bloomberg.com/quote/META:US">Meta Platforms Inc.</a>, leaving it to face a lawsuit that accuses the company of misleading shareholders about the data-harvesting scandal involving political consulting firm <a href="https://www.bloomberg.com/quote/1584842D:LN">Cambridge Analytica</a>.
Investors claim the company, then known as Facebook, inflated share prices by failing to adequately disclose the risk that its user data would be misused. The shareholders say revelations about the scandal contributed to two 2018 price drops that cost the company more than $200 billion in market value.

Legal

'Meta Must Face Investor Suit After Supreme Court Drops Case; Company Faces Allegations Over Data-Harvesting Scandal; Supreme Court Heard Arguments On Meta's Appeal On Nov. 6' - Bloomberg News

Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) boasts an 82.88% gain over the past year. Yet recent months have tested the resolve of its bulls, with a 30.17% dip over six months and a 9.45% slide <a href="https://www.benzinga.com/topic/donald-trump">in the last month</a>.
The Truth Social parent company is now exploring a cryptocurrency payment service, TruthFi, as <a href="https://www.ft.com/content/d7f921d5-3668-4b6b-a98d-2681ad73610f">reported</a> by the Financial Times. 
Is this the diversification move the stock needs to regain its upward momentum?
Read Also: <a href="https://www.benzinga.com/general/social-media/24/11/42124007/trump-media-trademark-filing-for-truthfi-hints-at-potential-digital-wallets-asset-trading">Trump Media Trademark Filing For &#8216;TruthFi&#8217; Hints At Potential Digital Wallets, Asset Trading</a>
<h2 class="wp-block-heading">DJT Stock Chart: Bulls &amp; Bears Playing Tug-O-War</h2>
DJT's technical indicators paint a mixed picture. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22103058/Screenshot-2024-11-22-at-9.00.42-PM.png" alt="" class="wp-image-661165" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22103058/Screenshot-2024-11-22-at-9.00.42-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22103058/Screenshot-2024-11-22-at-9.00.42-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
DJT stock, at $30.77, sits above its eight-day simple moving average (SMA) of $29.75, offering a short-term bullish signal. 
Yet, its 20-day SMA of $33.53 looms as a resistance point, giving a bearish signal. The 50-day SMA at $26.60 reinforces a bullish undertone for the intermediate term, but the 200-day SMA at $34.45 suggests broader bearish pressure.
Momentum indicators add complexity: the moving average convergence/divergence (MACD) indicator sits at 0.18, a bullish signal, while the relative strength index (RSI) at 50.16 hovers in neutral territory. 
DJT stock traders are likely watching closely for any confirmation of a breakout or breakdown from these levels.
<h2 class="wp-block-heading">TruthFi: Crypto Catalyst Or Diversification Dilemma?</h2>
Trump Media's trademark application for TruthFi hints at ambitions to leverage the crypto wave. If launched, TruthFi could extend beyond payment processing to include trading and asset management, positioning DJT as more than a social media play. The nascent nature of these plans — compounded by broader market skepticism — leaves the timeline and impact uncertain.
Trump Media is also reportedly interested in buying Bakkt. Shares of the crypto custody startup skyrocketed 160% on the rumors, but no concrete deal has materialized.
President-elect Donald Trump's signaling of crypto-friendly regulation will likely benefit DJT stock as well. 
<h2 class="wp-block-heading">What's Next For DJT Stock?</h2>
While bulls may see Trump Media's entry into crypto as the next growth catalyst, bears argue the stock's technical resistance and uncertain fundamentals warrant caution. 
For now, traders find themselves at an inflection point, waiting to see whether TruthFi's promise can materialize into profits — and whether DJT can move the needle in either direction.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42071926/a-hedge-fund-hit-big-on-trumps-rumored-crypto-acquisition-and-is-up-1415-million">A Hedge Fund Hit Big On Trump&#8217;s Rumored Crypto Acquisition And Could Be Up $14.15 Million</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Social Media

Technicals

Tech

Trump Media's TruthFi Gamble Tests Bulls And Bears

<a href="https://www.wsj.com/health/healthcare/sanofi-plans-to-change-hospital-drug-discount-program-18557f6d">https://www.wsj.com/health/healthcare/sanofi-plans-to-change-hospital-drug-discount-program-18557f6d</a>
&nbsp;
An industry fight against <a href="https://www.wsj.com/articles/340b-drug-discounts-hospitals-low-income-federal-program-11671553899?mod=article_inline&amp;mod=article_inline">lucrative drug discounts</a> for hospitals is intensifying as another drugmaker joins the battle: <a href="https://www.wsj.com/market-data/quotes/FR/XPAR/SAN">Sanofi</a>.
The pharmaceutical company plans to change its policy on how it gives discounts to certain hospitals. Sanofi will require institutions to provide pharmacy and medical claims information before receiving federally mandated discounts. The company plans to send a letter, which was reviewed by The Wall Street Journal, to hospitals outlining its new model on Friday, according to people familiar with the matter.&nbsp;

Biotech

'Sanofi Plans To Change Hospital Drug-Discount Program; French Company Looks To Rein In How It Gives Discounts In Federal Program Designed To Help Hospitals That Serve Low-income And Uninsured Patients' - WSJ

QMMM Shares Halted On Circuit Breaker To The Downside, Stock Now Up 30.3%

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Piper Sandler boosted the price target for Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) from $100 to $130. Piper Sandler analyst Rob Owens maintained an Overweight rating. Elastic shares closed at $109.21 on Thursday. <a href="https://www.benzinga.com/quote/ESTC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital cut the price target for Atkore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATKR#NYSE">ATKR</a>) from $99 to $93. RBC Capital analyst Deane Dray maintained a Sector Perform rating. Atkore shares closed at $85.14 on Thursday. <a href="https://www.benzinga.com/quote/ATKR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan cut Warner Music Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NYSE">WMG</a>) price target from $41 to $40. JP Morgan analyst David Karnovsky maintained an Overweight rating. Warner Music shares settled at $31.18 on Thursday. <a href="https://www.benzinga.com/quote/WMG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc boosted Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) price target from $68 to $85. Keybanc analyst Jason Celino maintained an Overweight rating. Procore Technologies shares closed at $75.23 on Thursday. <a href="https://www.benzinga.com/quote/PCOR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel cut DiamondRock Hospitality Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRH#NYSE">DRH</a>) price target from $10.75 to $10.25. Stifel analyst Simon Yarmak downgraded the stock from Buy to Hold. DiamondRock Hospitality shares closed at $9.14 on Thursday.  <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Benchmark cut PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) price target from $185 to $160. Benchmark analyst Fawne Jiang maintained a Buy rating. PDD shares closed at $104.09 on Thursday. See how other analysts view this stock.</li>
<li>Truist Securities raised the price target for AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) from $119 to $129. Truist Securities analyst Jamie Cook maintained a Buy rating. AECOM shares settled at $112.56 on Thursday. <a href="https://www.benzinga.com/quote/ACM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer boosted Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) price target from $712 to $722. Oppenheimer analyst Scott Schneeberger maintained an Outperform rating. Intuit shares closed at $678.70 on Thursday. <a href="https://www.benzinga.com/quote/INTU/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclay increased the price target for The Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) from $31 to $32. Barclays analyst Adrienne Yih maintained an Overweight rating. Gap shares closed at $22.04 on Thursday. <a href="https://www.benzinga.com/quote/GAP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel cut Spire Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SR#NYSE">SR</a>) price target from $70 to $69. Stifel analyst Selman Akyol maintained a Hold rating. Spire shares closed at $70.66 on Thursday. <a href="https://www.benzinga.com/quote/SR/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Read This Next: 
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<li><a href="https://www.benzinga.com/24/11/42139477/this-hca-healthcare-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-friday">This HCA Healthcare Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday</a></li>
</ul>

Analyst Ratings

ATKR

ESTC

INTU

PCOR

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Gap To Rally Around 45%? Here Are 10 Top Analyst Forecasts For Friday

Oppenheimer analyst Ken Wong maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Outperform and raises the price target from $300 to $350.

Price Target

ADSK

Oppenheimer Maintains Outperform on Autodesk, Raises Price Target to $350

Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) stock fell 1.7% to $162.87 this week, as investors assessed the ripple effects of NVIDIA's <a href="https://www.benzinga.com/markets/24/11/42101875/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full">third-quarter earnings report</a> on the broader semiconductor sector.
Nvidia, a key player in AI and data center markets where Broadcom also operates, posted strong results but provided a cautious fourth quarter outlook. The mixed market reaction to Nvidia&#8217;s report appeared to keep Broadcom shares in a holding pattern, reflecting broader uncertainties about growth prospects in the chip industry.
What To Know: Nvidia's robust performance underscored the ongoing demand for AI-related infrastructure, including advanced GPUs and complementary hardware, areas where Broadcom's networking and connectivity solutions play a critical role. 
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42119226/nvidia-analysts-see-stock-best-positioned-in-ai-not-worried-about-guidance-all-systems-go-for-blackwell-ramp">Analysts highlighted</a> Nvidia's next-generation Blackwell architecture as a significant driver of demand through 2025. However, Nvidia's guidance falling short of lofty expectations caused some profit-taking, illustrating the market&#8217;s sensitivity to growth narratives in the AI space.
Read Also: <a href="https://www.benzinga.com/24/11/42137117/teslas-balancing-act-us-china-trade-tensions-what-it-means-for-tsla-stock">Tesla Gains 55% In A Month With Strong China Role, Bullish Signals</a>
Broadcom, a major supplier of chips for data centers and AI workloads, is often viewed as a complementary player to Nvidia, benefiting from the surge in demand for high-performance computing infrastructure. 
Investors have also been closely watching Broadcom's strategic moves in recent memory, particularly its ongoing diversification efforts, including its <a href="https://www.benzinga.com/m-a/24/07/39692197/broadcom-issues-5b-in-debt-to-fund-vmware-acquisition">$61 billion acquisition</a> of VMware. 
This deal could further strengthen Broadcom's position in software-defined infrastructure, enhancing its ability to serve hyperscale data centers.
While Nvidia&#8217;s earnings highlighted sector strength, it also raised questions about near-term growth pacing. For Broadcom, the focus remains on its ability to capture a share of this evolving demand while leveraging its diverse portfolio.
Read Also: <a href="https://www.benzinga.com/news/econ-s/24/11/42138717/dollar-hits-2-year-highs-as-europes-recession-signals-spark-euro-pound-sell-offs">Dollar Hits 2-Year High As European Recession Fears Hammer Euro, Pound</a>
<h2 class="wp-block-heading">How To Buy AVGO Stock?</h2>
By now you're likely curious about how to participate in the market for Broadcom &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, AVGO has a 52-week high of $186.42 and a 52-week low of $90.31.

AVGO

What's Going On With Broadcom (AVGO) Stock?

BMO Capital analyst Thanos Moschopoulos maintains Real Matters (TSX:<a class="ticker" href="https://www.benzinga.com/stock/REAL#TSX">REAL</a>) with a Market Perform and lowers the price target from C$7.5 to C$7.

TSX:REAL

BMO Capital Maintains Market Perform on Real Matters, Lowers Price Target to C$7

CASK

Trading Halt: Halt status updated at 11:25:00 AM ET: Quotation Resumption: IPO Security - Released for Quotation

RBC Capital analyst Ben Hendrix reiterates SelectQuote (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLQT#NYSE">SLQT</a>) with a Sector Perform and maintains $4 price target.

Reiteration

SLQT

RBC Capital Reiterates Sector Perform on SelectQuote, Maintains $4 Price Target

BMO Capital analyst Jeffrey Silber maintains KinderCare Learning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLC#NYSE">KLC</a>) with a Outperform and lowers the price target from $34 to $31.

BMO Capital Maintains Outperform on KinderCare Learning, Lowers Price Target to $31

Nomura analyst Bing Duan upgrades Kingsoft Cloud Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) from Neutral to Buy and raises the price target from $2.3 to $6.7.

Upgrades

Nomura Upgrades Kingsoft Cloud Hldgs to Buy, Raises Price Target to $6.7

BMO Capital analyst Evan David Seigerman maintains Replimune Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REPL#NASDAQ">REPL</a>) with a Outperform and raises the price target from $14 to $18.

REPL

BMO Capital Maintains Outperform on Replimune Group, Raises Price Target to $18

Andrew Hones, CEO and founder of New Market Capital, unveiled &#8220;Battery Finance&#8221; on CNBC on Friday—an asset management platform combining <a href="https://www.benzinga.com/news/events/24/11/42069387/grant-cardone-calls-himself-a-coward-investor-puts-his-money-in-real-assets">traditional assets like real estate</a> with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: In an <a href="https://www.youtube.com/watch?v=26bOawTzT5U">appearance</a> on Squawk Box, Hones announced a loan that blends a 63-unit multi-family property in Philadelphia with Bitcoin as collateral. 
A $2 million loan was issued to refinance the existing mortgage on the property, fund improvements and allocate funds for purchasing Bitcoin. 
The loan combines traditional real estate collateral with Bitcoin, diversifying risk.
Borrowers must hold Bitcoin in escrow for at least four years, ensuring stability. 
The crypto king adds a hedge against inflation and enhances asset protection compared to traditional loans reliant solely on property.
Borrowers can repay loans anytime without penalty, but Bitcoin collateral remains locked for four years. 
Hones noted that this hybrid approach pairs stable, cash-flowing assets with Bitcoin&#8217;s growth potential, creating a hedge against volatility.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138947/bitcoin-zeroes-in-on-100000-but-this-indicator-signals-one-more-brief-correction">Bitcoin Zeroes In On $100,000, But This Indicator Signals One More Brief Correction</a>
Why It Matters: Hones believes Bitcoin can complement fixed-income portfolios and address pension fund shortfalls. 
Over the medium to long term, Bitcoin's performance offers the potential for significant returns—its worst historical return over any four-year period stands at 23%.
This approach aims to reduce reliance on high-risk credit investments while narrowing asset-liability mismatches in pension portfolios. 
By integrating Bitcoin with traditional credit structures, Hones envisions a transformative investment strategy capable of reducing pension funding gaps and enhancing overall portfolio stability.  
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a></li>
</ul>
Image: Shutterstock

$BTC

Bitcoin Paying For Your Mortgage? One Company Enables It, But There's A Catch

QMCO

Quantum Shares Halted On Circuit Breaker To The Upside, Stock Now Up 105.5%

BMO Capital analyst Daniel Jester maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Outperform and raises the price target from $71 to $85.

BMO Capital Maintains Outperform on Procore Technologies, Raises Price Target to $85

Ming Shing Group Holdings Limited (the "Company" or "Ming Shing") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSW#NASDAQ">MSW</a>), a Hong Kong-based company mainly engaged in wet trades works whose mission it is to become the leading wet trades works service provider in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 1,500,000 ordinary shares ("Shares") at a public offering price of $5.50 per Share. The Shares are expected to begin trading on the Nasdaq Capital Market on November 22, 2024, under the ticker symbol "MSW".
The Company expects to receive aggregate gross proceeds of $8,250,000 from this Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 Shares at the public offering price, less the underwriting discounts.
The Company intends to use the net proceeds of the Offering for (i) expanding the Company's workforce; (ii) repayment of bank borrowings and finance leases; (iii) acquiring additional equipment; (iv) procuring an enterprise resource planning system; and (v) general working capital purposes.
The Offering is expected to close on November 25, 2024, subject to the satisfaction of customary closing conditions.

IPOs

Ming Shing Group Holdings Prices $8.25M Initial Public Offering Of 1.5M Shares At A Price Of $5.50/Share

BMO Capital analyst Simeon Siegel maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Market Perform and raises the price target from $23 to $25.

BMO Capital Maintains Market Perform on Gap, Raises Price Target to $25

Berenberg Bank analyst Trion Reid maintained a Hold rating on AFC Ajax (AFCJF – Research Report) yesterday and set a price target of €9.00. The com...

AFC Ajax (AFCJF) Receives a Hold from Berenberg Bank

AFC Ajax

English Premier League team Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) is widely recognized as one of the top football &mdash; or soccer &mdash;&nbsp;teams in the world. The owners could be ready to sell and public shareholders could win big.

What Happened: After years of upset fans and calls to sell the team, the Glazer family is ready to hear offers. Earlier this year, the team saw shares spike when linked to a joking tweet by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/22/08/28536530/elon-musk-is-not-buying-manchester-united-but-the-team-could-still-be-for-sale">CEO Elon Musk.</a>

Manchester United <a href="https://www.manutd.com/en/news/detail/man-utd-announces-process-to-explore-strategic-alternatives-to-enhance-club-growth">announced </a>Tuesday the team&rsquo;s board of directors&nbsp;is &ldquo;exploring strategic alternatives for the club.&rdquo; The team said the sale exploration process is being done to position the team for future growth opportunities on and off the field.

&ldquo;As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company,&rdquo; the team said.

The release from the team credited a global following of 1.1 billion fans as a strength of Manchester United.

&ldquo;Throughout this process we will remain fully focused on serving the best interest of our fans, shareholders and various stakeholders.&rdquo;

Manchester United has obtained The Raine Group as its financial advisor on any potential deal. The team said the process does not guarantee that a sale or investment will take place.

The official statement from the team follows rumors over the years of the Glazer family being ready to sell.

One of the interested parties in a potential Manchester United sale is Sir Jim Ratcliffe, a lifelong fan of the team who has <a href="https://www.mirror.co.uk/sport/football/news/man-utd-jim-ratcliffe-takeover-28560649">been </a>trying to buy a soccer team in recent years. Ratcliffe, who is the United Kingdom&rsquo;s richest person and worth $16.3 billion, previously tried to buy Chelsea, which also used The Raine Group in the sale process.

Michael Knighton has also been linked to a potential bid for the team.

Manchester United launched a Fans&rsquo; Advisory Board and <a href="https://www.benzinga.com/news/21/11/24109377/could-manchester-united-increase-valuation-with-offering-fans-more-shares-or-selling-the-team">announced discussions of selling shares</a> to the Manchester United Supporters Trust in 2021, two moves seen as precursors to offer ownership to fans.

Related Link: <a href="https://www.benzinga.com/general/entertainment/22/11/29829142/cristiano-ronaldo-leaves-manchester-united-after-scoring-145-goals-in-346-appearances">Cristiano Ronaldo Leaves Manchester United After Scoring 145 Goals In 346 Appearances&nbsp;</a>

The Potential Sale Price: Manchester United went public on the New York Stock Exchange in 2012 with an offering at $14 per share. Shares hit an all-time high of around $25 back in 2018 and have traded mainly between the $15 and $20 price window over the last five years.

Manchester United correspondent for GOAL James Robson previously said the Glazer family could be looking for $7.23 billion in a sale&nbsp;given the sale price of Chelsea. The most recent <a href="https://www.forbes.com/sites/mikeozanian/2022/05/26/the-worlds-most-valuable-soccer-teams-2022-real-madrid-worth-51-billion-back-on-top/">Forbes </a>team valuations saw Manchester United ranking third behind the $5.1-billion valuations for Real Madrid and Barcelona. There is a chance that the Glazer family will look to see a higher valuation in a sale.

To look at what the team could fetch in a sale, we looked at the team&rsquo;s valuation from leading publications and recent sports teams sales.

Manchester United was valued at $4.6 billion and $4.7 billion by Forbes and <a href="https://www.sportico.com/valuations/teams/2021/premier-league-team-values-manchester-united-1234630145/">Sportico,&nbsp;</a>respectively.

One of the recent English Premier League sales was Chelsea&#39;s&nbsp;<a href="https://www.si.com/soccer/2022/05/30/chelsea-sale-made-official-todd-boehly-roman-abramovich">sale&nbsp;</a>to Todd Boehly for $3.2 billion, one of the largest such deals.&nbsp;

Chelsea was previously valued at $3.2 billion and $3.4 billion by Forbes and Sportico, respectively, prior to the sale.

Burnley was <a href="https://www.bloomberg.com/news/articles/2021-01-07/english-premier-league-team-s-sale-comes-with-a-financial-twist?sref=TBDibEcD">sold </a>in 2021 for $271.1 million after being valued by Sportico for $180 million. The sale has since proved controversial but saw the EPL team sold for more than its published valuation.

Manchester City <a href="https://www.nytimes.com/2019/11/27/sports/manchester-city-silver-lake.html">sold </a>a 10% stake in the team to Silver Lake Partners in 2020 valuing the team at $4.8 billion. The team was valued at $2.69 billion prior to the partial sale and is now valued at $4 billion and $4.2 billion by Sportico and Forbes, respectively.

EPL giant Liverpool, which is <a href="https://www.benzinga.com/news/21/12/24392312/lebron-james-now-owns-part-of-the-pittsburgh-penguins">partially owned by </a><a href="https://www.benzinga.com/news/21/12/24392312/lebron-james-now-owns-part-of-the-pittsburgh-penguins">LeBron James</a>, is also <a href="https://www.dailymail.co.uk/sport/sportsnews/article-11462149/Manchester-United-believe-snatch-potential-buyers-Liverpool.html">exploring </a>a sale and could see a race to command top dollar and lure bidders based on fan base and field performance.

Outside of soccer, the National Football League&rsquo;s Denver Broncos were sold for $4.65 billion to an ownership group that included Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) heir Rob Walton.

The sale is the largest sports team sale ever by dollar value. The Broncos were valued at $3.75 billion last year prior to the sale.

Taking all factors into consideration, Chelsea sold for around a 1x multiple of team valuations, Burnley sold for a 1.5x multiple, Manchester City sold for a 1.78x multiple and the Denver Broncos sold for a 1.24x multiple of the team valuation calculations.

Based on the multiples, Manchester United could sell for a range of $4.65 billion and $8.28 billion. With the team rumored to be seeking over $7 billion, the asking price could fit into the higher end of the range to get a deal done.

Manchester United is valued with a market capitalization of $2.1 billion and an enterprise of $2.76 billion. A sale at $4.65 billion would add $1.89 billion to the enterprise value and be 68% higher than the current share price. A sale at $8.28 billion would add $5.52 billion to the enterprise value and be 200% higher than the current share price.

A buyout of the team in these scenarios would see Manchester United shares worth $29.38 to $34.98 each.

A sale of Manchester United could lead to interest in other public sports teams. Several soccer teams trade OTC, including Juventus FC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JVTSF#OTC">JVTSF</a>), Borussia Dortmund (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BORUF#OTC">BORUF</a>) and AFC Ajax (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFCJF#OTC">AFCJF</a>).

A high multiple in a sale process for Manchester United could also spark interest in <a href="https://www.benzinga.com/news/22/06/27612343/you-cant-buy-an-nfl-team-like-the-denver-broncos-but-you-can-buy-these-10-public-sports-teams-and-le">publicly traded companies</a> that own sports teams including Liberty Braves Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>), Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>), Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>), Bell Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) and Blue Owl Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>).

Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29702018/manchester-united-digital-collectibles-nfts-coming-soon-here-are-the-details">Manchester United Digital Collectibles (NFTs) Coming Soon: Here Are The Details&nbsp;</a>

Photo via Shutterstock.

Here's How Much Manchester United Stock Could Be Worth In Potential Sale

The <a href="https://www.forbes.com/sites/elizahaverstock/2021/10/26/elon-musk-nearing-300-billion-fortune-is-the-richest-person-in-history/">world&rsquo;s richest person</a> created a stir in the sports world when he tweeted that he would be buying one of the most valuable and recognizable soccer teams in the world.

What Happened: Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk <a href="https://www.benzinga.com/news/22/08/28528194/elon-musk-says-hes-buying-manchester-united-and-youre-welcome">suggested </a>on Twitter Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWTR#NYSE">TWTR</a>) Tuesday night that he could be buying English Premier League team Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>).

The team is one of a handful of professional sports teams that are publicly traded.

While Musk later clarified that he was joking, investors could have the last laugh with rumors of a sale heating up once again.

Meanwhile, Musk did show some love for Manchester United:

<blockquote class="twitter-tweet">
No, this is a long-running joke on Twitter. I&#39;m not buying any sports teams.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1559760618537848832?ref_src=twsrc%5Etfw">August 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&ldquo;Although, if it were any team, it would be Man U. They were my fav team as a kid,&rdquo; Musk <a href="https://twitter.com/elonmusk/status/1559691922725281800">tweeted</a>.

<blockquote class="twitter-tweet">
What if? <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> <a href="https://t.co/X2bRiecGcG">pic.twitter.com/X2bRiecGcG</a>
&mdash; utdreport (@utdreport) <a href="https://twitter.com/utdreport/status/1559889236437901312?ref_src=twsrc%5Etfw">August 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The tweet wasn&rsquo;t the first time Musk has joked about buying a public company with a tweet. Earlier this year, he <a href="https://www.benzinga.com/news/22/04/26858885/elon-musk-tweets-wants-to-buy-coca-cola-to-add-cocaine-admits-cant-work-miracles-on-mcdonalds-ice-cr">suggested </a>he would buy Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>).

Musk, who is <a href="https://www.bloomberg.com/billionaires/">worth </a>$267 billion, has no interest in acquiring a sports team at this time, unlike some other wealthiest people. Coincidentally enough, Musk was <a href="https://www.benzinga.com/news/21/10/23674654/elon-musks-wealth-has-increased-so-much-he-could-buy-every-mlb-nba-nfl-and-nhl-team">worth more </a>than all the MLB, NBA, NFL and NHL teams combined at one point in October 2021.

What&rsquo;s Next: Prior to Musk&rsquo;s tweet, rumors of a sale of Manchester United had started to circulate in the United Kingdom.

Agent Jon Smith <a href="https://twitter.com/utdreport/status/1559653756245090304">said </a>he believed Manchester United would be sold &ldquo;within the next 24 months. There are people circling,&rdquo; according to TalkSport.

Reporter Luca Bonaiti <a href="https://twitter.com/luca_bonaiti/status/1559886579786727424">tweeted </a>on August 9 that a sale could happen soon.

&ldquo;For the first time in 17 years, the Glazers are open to selling United if they fail to get UCL again this year since 2005 the Glazers have never been this open to selling before. Some people/groups are already &lsquo;very interested&rsquo; in buying the club,&rdquo; Bonaiti said, referencing the Glazer family that owns the team and has been reluctant to sell.&nbsp;

Manchester United correspondent for GOAL James Robson also <a href="https://twitter.com/jamesalanrobson/status/1559853404264042496">highlighted </a>a potential sale on Twitter.

&ldquo;I&rsquo;ve been told it would take around six billion British pounds to buy United. Chelsea were 4.25 billion British pounds with vastly smaller stadium and commercial appeal,&rdquo; Robson said.

Robson <a href="https://www.goal.com/en/lists/who-is-michael-knighton-headcase-manchester-united-glazers/blt93020c5ca6c596c3">shared </a>a GOAL story of Michael Knighton, who previously tried to buy the team and could be back in the picture again. Knighton said a new bid would come in higher than Chelsea&rsquo;s sale to Todd Boehly.

&ldquo;I&rsquo;ve got some good pledgers with good finance,&rdquo; Knighton said. &ldquo;We are now working on the offer document. It is a hostile bid.&rdquo;

Manchester United launched a Fans&rsquo; Advisory Board and announced discussions oof offering shares to the Manchester United Supporters Trust in 2021, two moves seen as precursors to offer ownership to fans.

Rumors of a Manchester United bid may have investors circling the stock and options. Unusual Whales <a href="https://twitter.com/unusual_whales/status/1559711105592840193">noted </a>some unusual options activity over the last several trading sessions.

Related Link: <a href="https://www.benzinga.com/news/21/11/24109377/could-manchester-united-increase-valuation-with-offering-fans-more-shares-or-selling-the-team">Could Manchester United Increase Valuation With Offering Fans More Shares Or Selling The Team&nbsp;</a>

Manchester United Valuation: A potential sale of Manchester United will be closely watched by soccer fans and investors alike. A sale could significantly increase the value of Manchester United shares, which went public in 2012 at $14 a share.

The company is valued at a market capitalization of $2.1 billion and an enterprise value of $2.7 billion.

Estimates from <a href="https://www.forbes.com/teams/manchester-united/?sh=1a05028a13f9">Forbes </a>and Sportico value Manchester United at $4.6 billion and $4.7 billion respectively.

Robson puts a potential sale price for Manchester United at 6 billion British pounds, or around $7.24 billion.

No matter how its sliced, a sale of Manchester United will likely come in above the share price and come closer to the Forbes and Sportico valuations or above.

EPL team Chelsea was recently <a href="https://www.espn.com/soccer/chelsea-engchelsea/story/4677672/roman-abramovich-has-sold-chelseabut-what-is-his-legacy-at-the-club-and-in-england">sold </a>to Todd Boehly for $3.2 billion marking the largest sports team sale ever. Chelsea was <a href="https://www.benzinga.com/news/22/03/25952055/russian-billionaire-roman-abramovich-to-sell-chelsea-fc-what-it-means-who-could-buy-it-and-3-stocks">valued </a>at $3.2 billion and $3.4 billion by Forbes and Sportico respectively prior to the sale.

Several other large soccer teams trade OTC including Juventus FC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JVTSF#OTC">JVTSF</a>), Borussia Dortmund (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BORUF#OTC">BORUF</a>) and AFC Ajax (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFCJF#OTC">AFCJF</a>). A sale of Manchester United could spark other sales of top teams in Europe.

Benzinga previously <a href="https://www.benzinga.com/news/earnings/22/03/25910665/manchester-united-shares-fall-on-earnings-how-champions-league-and-tezos-partnership-could-help-boo">reported </a>that a partnership with Tezos and a return to the Champions League were two items that could boost Manchester United&rsquo;s revenue and share price going forward. The team failed to qualify for the Champions League after falling to sixth place to end the 2021-2022 season.

The team is off to a rough start in the 2022-2023 EPL season losing its first two games, which has sparked further fan unrest and could expedite a sale.

MANU Price Action: Manchester United shares are up 1% to $12.94 at the time of writing. Shares spiked above $14 in pre-market trading Wednesday.

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