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Aditya Raghunath

This Investor Is Betting $1 Billion on a Lululemon Stock Turnaround. Should You Buy the Dip Here in Hopes of Gains to Come?

LULU Lululemon Elliott Calvin McDonald

Activist investing heavyweight Elliott Investment Management just made a bold bet, acquiring a $1 billion stake in Lululemon (LULU). The firm's involvement, coupled with the abrupt departure of CEO Calvin McDonald, has investors wondering whether this marks the beginning of a genuine turnaround or the start of a painful restructuring.

LULU stock surged around 10% last week following the news of McDonald's exit. Yesterday, it rose more than 3% after Elliott disclosed a $1 billion investment in the athleisure giant. Lululemon reported a 2% decline in its core market amid competition from startups including Vuori and Alo Yoga.

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