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After some promising results in 2019 including Q4, Under Armour (UA, UAA) hit a major roadblock with 2020 guidance due primarily to North America and secondarily to coronavirus in China. The biggest issue remains the painful shift of consumer habits away from discounted pricing to pay premium prices for new performance athletic gear. My investment thesis remains very bullish on the stock on this 15% dip to yearly lows.
Far From A Bad Quarter
Technically, Under Armour missed Q4 revenue estimates by $30 million while meeting EPS targets of $0.10. The athletic