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Manchester United’s (NYSE:MANU) losses to West Ham and Aston Villa over the last week haven’t harmed its share price, which has continued to rise – likely fuelled by the recent signing of Cristiano Ronaldo and a strong earnings forecast.

NYSE-listed Manchester United shares have in fact been on a run since July. We looked more closely at the stock in the fall out from the proposed European super league, but it seems to have been the Ronaldo signing more than anything which has powered the shares since the summer.

Manchester United shares were up from 14.5 to trade close to the 20.5 level today, and we are still seeing further upward momentum in the market Tuesday.

Uber updates financial forecast

“It was Uber (NYSE:UBER) that saw the biggest increase on our platform this week following its updated financial forecast of an adjusted EBITDA to come in between a loss of $25 million and a profit of $25 million,” said Naeem Aslam, Chief Market Analyst, AvaTrade

This is significantly better than the ride-hailing and food delivery giant’s previous forecast for an adjusted EBITDA loss of $100 million. Snapchat (NYSE:SNAP) also performed well this week as it nears buy point and its user base continues to grow.

A date for your diary

On the 21st of October, Stuart Fieldhouse will be joining Sarah Lowther and Mark Watson-Mitchell to discuss which small cap investments they like the look of and, perhaps, which ones they do not. It promises to be a lively and insightful discussion. If you are interested in investing in small cap stocks then this could be a profitable use of your time. We hope you can make it! Sign up now

Unlike Manchester United, Uber still has a long way to go to claw back losses to the share price experienced over the summer months. Uber shares have rallied sharply in the last week, but they are still down at 47.25. Back in July Uber Technologies stock was at the 60 level. This has been a big disappoint for investors in the last few months.

Other big gainers over the last week include Twitter (NYSE:TWTR), up 7.72%, and Groupon (LSE:0R1H), up 9.76%.

Investors are cutting losses in Alibaba stock

Elsewhere, Alibaba’s (HKG:9988) price fell sharply and came in at first place on the AvaTrade most falling table as it feels the effect of the news that Chinese real estate giant Evergrande Group could be forced into bankruptcy.

This threat to the Chinese economy would see Alibaba impacted in the fallout. “Nike has taken third place on our most falling table after poor results this fiscal year,” Aslam added. “The sportwear giant has been suffering supply chain disruption as a result of the continued COVID-19 pandemic.”

Supply chain problems also seem to have hit shares in sportswear group Nike (NYSE:NKE), which was off 4.3% during the week. Nike reported yesterday, and cited supply chain disruptions as it revised revenue forecasts downwards. Nike has also suffered from forced closures of important manufacturing facilities in Vietnam and Indonesia, as governments in those countries tried to curb the pandemic over the summer.

Another big loser has been Disney (NYSE:DIS), which saw its shares shed some 4.12% over the week. This really followed on from comments made by its CEO Bob Chapek that, inevitably we feel, the subscriber growth the company has been seeing from Disney + is not expected to continue. Chapek said that paid subscribers to Disney + are only expected to continue to grow in the single digit millions which has poured cold water on the hopes some investors had for the service.

Investors were also disappointed by Disney’s announcement that it was not going to immediately reinstate dividends of share buy backs.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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A date for your diary

On the 21st of October, Stuart Fieldhouse will be joining Sarah Lowther and Mark Watson-Mitchell to discuss which small cap investments they like the look of and, perhaps, which ones they do not. It promises to be a lively and insightful discussion. If you are interested in investing in small cap stocks then this could be a profitable use of your time. We hope you can make it! Sign up now

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