Lululemon Athletica Inc. (NASDAQ: LULU) has to be one of the most painful charts for retail investors to look at this year. After gaining nearly 90% through the end of January, shares are now down more than 60%, closing Monday just under $160.
That puts the stock back at 2018 levels, a shocking disconnect from the broader market, which has been hitting record highs all summer. This collapse raises an obvious question for a brand that still dominates the high-end athletic apparel space: has Lululemon been unfairly dumped, and is there now a contrarian opportunity taking shape?
