UA - Here's Why Shares of Under Armour Are Climbing Today
Investors were pushing up Under Amour's (NYSE: UA) (NYSE: UAA) share price this morning after the company named a new independent director to its board. Additionally, investors were pleased to hear that a potential coronavirus vaccine is doing well in early human testing.
Under Armour's stock was up 7.9% as of 11:20 a.m. EDT.
Under Armor's shares have been pummeled by the coronavirus as consumers around the globe haven't been able to venture into stores for months and many others have limited their discretionary spending. The company is trying to build a strategy for handling the virus and one of its latest moves came today as it announced that Mohamed El-Erian, a current Under Armour board member, is the company's new lead independent director of the board.