I follow the stock markets as well as the crypto markets regularly. Been into trading for a few years now.
With regards to price making significant moves such as 9% in a day. There are two elements as to why price moves on a stock. Fundamental & Techincal.
Technical - This is simply price action moving based on the charts, chart patterns, price hitting key levels where traders are likely to buy or sell. This is simply trading based on how the charts look and using indicators to predict where the price will go next.
Fundamental - This is basically something external to the charts that has had an impact on the price. It could be partnerships, sponsorship deals, potential transfers etc. It’s basically news encouraging people to buy or sell.
Today’s Utd stock price opened up 9% higher than the price it closed at yesterday. So basically there were buyers awaiting as soon as the markets opened.
Looking at the charts there was no “technical” reason that I can see for the price to go up. If anything, the chart pattern suggested the price should go further down. Also the rest of the stock market in general was pretty crap today and everything tanked in price. Tesla dumped hard about 20%.
So basically the price spike has to most certainly be for a fundamental reason. Could it be investors getting wind of potential Sancho signing? Possibly. It’s the only logical reason that would impact the price in such a spike in one day in my view.
The 3rd kit being released is personally for me not significant enough reason to have such a spike. Otherwise this would have reflected across every club releasing their kits. We have to remember as well that the revenue from Kit sales mainly goes to Adidias. Utd only make a fraction on each sale of Shirt I believe.
A key point to note is that the price may have spiked up because investors are taking a punt that Sancho is about to sign and therefore speculating that the price will go up even further if they were to buy the stock now.
It is possible someone who’s a trader has got information from a trusted source on the inside. However it must be noted insider trading is illegal and punished severely. However it’s also very difficult to prove a trader has acted upon a stock after hearing from an agent a certain deal is about to be done.
What I will add is the amount of volume of the Utd stock that has been traded today has been the most for over a month. That basically means its been the most amount of shares swapping hands since over a month ago.
We will see if it means anything soon!