2024-07-01 10:00:00 ET
Summary
- Nike's collapse presents an opportunity for Under Armour to regain prominence in athletic apparel.
- Under Armour's founding CEO, Kevin Plank, has returned to lead the company after struggles due in part to post-Covid disruptions.
- The stock is incredibly cheap compared to Nike, despite favorable gross margins and similar growth issues.
The collapse of Nike ( NKE ) provides an opportune time for Under Armour ( UA , UAA ) to finally regain prominence in the athletic apparel space. The company chose an opportune time for founding CEO Kevin Plank to return to Under Armour after the business has struggled to turn around following Covid disruptions. My investment thesis remains ultra-Bullish on the stock after the lows above $6.50 were held despite the amazingly weak guidance from Nike and implications for the industry....
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Under Armour: Golden Opportunity