A surge in trading activity on the online forum Reddit has recently propelled the share price of German football club SpVgg Unterhaching to unprecedented levels. Over the past two weeks, the regional league club’s stock experienced a dramatic increase, peaking at €3.58 at the beginning of September – a substantial rise from a previous value of just €0.85.
Investigations by Capital suggest that a group of users on Reddit have been treating the club’s stock as a “meme stock” generating considerable online discussion and influencing trading patterns.
Manfred Schwabl, president of SpVgg Unterhaching, expressed surprise at the events. “It was completely unexpected” he stated. He believes a collective of investors were exploring investment opportunities using the football club’s stock. While acknowledging the positive attention, Schwabl also noted inquiries from shareholders concerned about the unusual price volatility.
He confirmed that the club is not planning any immediate investor involvement, although discussions regarding a potential capital increase are ongoing. Schwabl added that while many shareholders are genuine supporters of the club, a portion appear to be short-term investors looking to quickly profit from the fluctuating price.
SpVgg Unterhaching joined the German stock market in 2019, becoming only the second football club in Germany to do so. Despite the recent price increase, the share remains considerably below its initial offering price of €8.10. The club currently competes in the Regionalliga Bayern following relegation from the third division last season. The unexpected attention, while generating considerable interest, does not immediately translate into improved financial liquidity for the club.