A company backed by the mother of Asia pop megastar Jay Chou saw its stock tumble by a record 72% Wednesday, with no immediately apparent reason.
FILE PHOTO: Soccer Football - Premier League - Manchester United v West Ham United - Old Trafford, Manchester, Britain - January 22, 2022 General view of the corner flag inside the stadium before the match REUTERS/Phil Noble
United have embarked on a slew of changes since British billionaire Jim Ratcliffe bought a 25% stake in the club and under his stewardship had a positive summer in the transfer market. The club made quick and decisive moves to secure new players, many of whom are under 25 years of age, seeking success with them in the short term and the future.
United's net loss widened to 113.2 million pounds in the year ended June 30, from 28.7 million pounds a year earlier. This was only the second time since the New York listing that United's annual net loss was more than 100 million pounds.The club said it was compliant with the Premier League's Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.
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