Man United Stock Plunge Exceeded by Football Team’s Shirt Sponsor
(Bloomberg) -- Manchester United Plc shares are having a tough day, but not as bad as the soccer team’s shirt sponsor.
While United plunged 15% in New York as its owners announced a share sale, the company whose logo is brandished on the jerseys of Cristiano Ronaldo and co. -- TeamViewer AG -- plummeted 28% in Frankfurt.
TeamViewer tumbled after cutting its profit forecast for the year amid weaker-than-expected demand for its work-from-home software. The shares also slumped in March when the costly tie up with the giant of the English game was announced.
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