Manchester United Ltd MANU shares are trading higher Wednesday after Tesla Inc TSLA CEO Elon Musk jokingly said he was buying the English football club.
"Also, I’m buying Manchester United ur welcome," Musk said via tweet Tuesday evening.
A couple hours after the tweet made headlines leading to speculation about a potential acquisition, the Tesla CEO clarified that he was joking.
Replying to a Silicon Valley Tesla club account, Musk said he wouldn't be buying Manchester United or any other sports club.
"No, this is a long-running joke on Twitter. I'm not buying any sports teams," Musk said.
The joke comes as the Tesla CEO battles Twitter Inc TWTR in court in an effort to back out of his $44 billion deal to buy the social media platform.
If Musk were serious about acquiring Manchester United, it would be a much cheaper investment. Manchester United currently trades with a market cap just above $2 billion, according to Benzinga Pro.
Related Link: Elon Musk Says He's 'Buying Manchester United:' Would It A Better Deal Than Acquiring Twitter?
MANU Price Action: Manchester United has a 52-week high of $15.05 and a 52-week low of $10.41.
The stock was up 6.26% at $13.58 at time of publication.
Photo: Paul and Tesla Owners Club Belgium on Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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