Did Rooney Management Rumour Fuel This Sudden 22% Everton ($EFC) Spike?
Wayne Rooney may have fuelled a significant price spike for $EFC after the ex-player said Everton was one of just two clubs he’d return to management for.
The vague prospect of an ex-club legend returning to the dugout at Everton may have been responsible for a 22% spike in the valuation of the Everton FC Fan Token® ($EFC) on Sept. 24.
Wayne Rooney told media sources on Thursday that while he thought his managing days were probably over, there were still two clubs that could tempt him back into management, namely Everton and Manchester United.
Rooney came through the ranks at his boyhood club Everton before sealing a big-money move to Manchester United when he was just 18. Rooney returned to the club for a season in 2017-18 near the end of his career.
When asked which of the two clubs he’d prefer to manage, he joked: “The one that comes first.”
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Did Rooney Rumour Move Everton ($EFC) Price?
On Thursday, Sept. 24, the valuation of the Everton FC Fan Token® ($EFC) started off at a daily low of $0.05.
As news of Rooney’s comments circulated around the media, the $EFC valuation began to climb, resulting in a 21.9% spike as the token price briefly hit $0.061 before undergoing a retracement soon afterwards.
Even after the fallback, the $EFC valuation still stood 8% higher than it was prior to Rooney’s comments, and has now registered 12.8% gains since a monthly low on Sept. 16.
Trade volume rose from $360,000 to over $480,000 amid the spike, increasing by around one third on the day.
In reality, Rooney’s comments were hopeful at best, especially given that current Everton manager David Moyes still remains unbeaten in the Premier League this season after the first five games. Moyes has also won two of two EFL Cup games, taking Everton’s unbeaten run to seven this season.
Despite the ex-player’s legendary status at both Everton and Manchester United, it’s unlikely that Rooney will appear at the very top of the managerial shortlists of either club when they decide to make a change.
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Is Unbeaten Moyes Fuelling an $EFC Long-Term Revival?
After steadying the ship last season following the dismissal of Sean Dyche, current Everton manager David Moyes went on an unbeaten run between February and April, grabbing a manager of the month award in the process.
Moyes’ return to the club he managed for 12 seasons between 2002 and 2013 seems a perfect fit, and one that most Everton fans probably don’t want to see disrupted for the time being.
Rooney’s comments were enough to move $EFC for a brief moment, but, ultimately, the short-lived price-spike was catalysed more by an example of celebrity association than by any real sporting prospect.
Fan Tokens Market Reporter