Under Armour: Running Higher
Based on strong results from peers and a post-COVID rebound, (UA, UAA) was forecast to report a massive quarter for the period ending June. In no real surprise, the athletic apparel firm smashed estimates and the stock is still surging. My investment thesis remains Bullish on the stock with substantial upside to obtain peer valuation multiples.
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Disclosure: Long UA. Please review the disclaimer page for more details.
Update - Nov. 2
Under Armour reported a massive quarter considering the supply chain issues, especially at Nike (NKE). The stock has soared to the previous double top around $25.50 and the presumption is that Under Armour doesn't look back now.
Update - Sept. 16
This is exactly why UA needs to focus on performance sports wear.