Two Stocks to Watch in 2023

VIDEO: Expect some volatility from Manchester United and Coinbase shares next year

James Gard 15 December, 2022 | 9:36AM
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James Gard: Welcome to Morningstar. We’re looking ahead to 2023 and what stocks could be making the news. These are companies that are likely to generate headlines – and some share price volatility – in the coming year. The first one is Premier League football team Manchester United. Its shares are listed in New York and they’ve surged more than 40% after the club was put up for sale. The current market value is around three and a half billion dollars. But the club – a sporting franchise with a cabinet full of trophies – could achieve much more. The bidding process is likely to be a gripping spectacle, especially as bitter rivals Liverpool are also up for sale. Which club will achieve the highest price?

Our second stock to watch is Nasdaq-listed Coinbase. The cryptocurrency exchange is a lightning rod for the industry, and as crypto has struggled, so have its shares, which are off 83 percent this year. The collapse of FTX and arrest this week of Sam Bankman-Fried is not helping sentiment. With a number of high-profile scandals already this year, what are the odds on more in 2023? But – is there a contrarian narrative here? Well, crypto could rebound next year if risk assets return to favour – and there are already early signs of this happening. This could boost demand for Coinbase shares. For the record our analysts think they are now significantly undervalued at around $40 with a fair value of $90 per share. For Morningstar, I’m James Gard.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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James Gard

James Gard  is senior editor for


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