Manchester United (NYSE:MANU)

CAPS Rating: 1 out of 5

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Player Avatar MegaShort (99.95) Submitted: 8/11/2012 4:04:16 PM : Underperform Start Price: $13.97 MANU Score: +7.50

http://dealbreaker.com/2012/08/manchester-united-ipo-goes-nowhere-in-exciting-fashion/#idc-container

Either the underwriters were covering an undisclosed $150M short position, or they bought an extra $150M, which they will quickly want to unload. Either way, extremely heavy action at the IPO price suggests the price will go lower once the underwriters allow price discovery to happen.

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