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UAA - Under Armour: No Basis For Accounting Probe Fears
Under Armour Inc. Class A
Over the last few weeks, Under Armour (UA, UAA) took a hit due to the news that the SEC and DOJ were probing the accounting of the athletic apparel maker. The WSJreport makes the clear case the retailer made significant mistakes with sales practices that hurt the brand and damaged relationships with retail partners, but the report falls far short of claiming any accounting irregularities. Considering the details of the probe and the shift to a new CEO that joined the company in 2017, my investment thesis is even more bullish