Manchester United Ltd (NYSE: MANU) shares are trading higher Wednesday after Tesla Inc (NASDAQ: 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 (NYSE: NYSE: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 from Flickr.
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