MAR - Under Armour Stock: This Selloff Is Not An Opportunity To Buy
2024-03-15 10:30:18 ET
Summary
- Under Armour stock dropped 11% after the announcement that founder Kevin Plank would return as CEO.
- The $330 million loss in market cap seems to have been driven by fear and skepticism rather than a quantifiable deterioration in the company's prospects.
- Under Armour's challenges, including dependence on a struggling North American market and declining margins, have not improved much since 2019, making the stock unattractive.
Under Armour, Inc. ( UA , UAA ) stock took a big hit on Thursday, March 14. Shares were down 11% on news that founder Kevin Plank would return to the post of CEO on this year's April Fool's Day....
Under Armour Stock: This Selloff Is Not An Opportunity To Buy