Celtic share price rockets to yearly high
Shareholders rejoice: Celtic share prices have rocketed to a yearly high.
Today, the club’s share price rose to 133.00, up 12% at the time of writing [LSE]. Whether that’s down to nonsense speculation about a British League, or rumblings in the market about new appointments is unclear.
The reputation of Dominic McKay as new CEO could have investors excited. Formerly of the SRU, McKay has a distinguished record in business and sport, and his early arrival on Monday saw a bump to the value of Celtic shares. Equally, a culture of change in general, including speculation about a new manager, could have those in financial circles talking.
This could have very interesting implications for the Celtic Trust, and initiatives like Celtic Shared. Fan ownership campaigns have been far louder this season, and a Season Tickets for Shares idea has seen a groundswell of support over recent months.
The gist of the Celtic Trust and Celtic Shared’s plans is to pressure the board into issuing shares for season ticket holders as a means of compensation. Clubs around Europe have offered some kind of token refund, and there are movements within the Bhoys’ support hoping that the Hoops board will do something similar.
Whether today’s trading news would have the board more or less keen on the idea is up for debate.
Could this be an indication of big Celtic news?
Unfortunately, I’m by no means a financial expert.
However, I’m relatively sure that this kind of rise in price is in reaction to something. Again, we’re hoping it’s not the pointless, scurrilous rumours about joining the Premier League. It’s not even been a day, and we’re desperate to see that story put to bed for another year or two.
Could it mean some managerial news in the offing? It’s totally unclear. It’s extremely unlikely that canny investors know something that Celtic supporters don’t; after all, we all consume broadly the same football media.
Either way, if the share price is rocketing to such extremes, it tells us that either stakeholders are reacting to speculation, or something big is about to happen.