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Barchart
Barchart
Josh Enomoto

Why Under Armour (UA) Could Offer a Quick Bullish Scalp

UA Under Armour Barchart UAA Kevin Plank

Looking at the surface, circumstances don’t look at all appealing for sports apparel specialist Under Armour (UA, UAA). On Thursday, UA stock suffered a steep collapse of more than 10%. The culprit? Former CEO Stephanie Linnartz – who joined Under Armour about a year ago – got the boot. Replacing the business leader is Kevin Plank, founder and former head executive.

Generally, investors don’t appreciate sudden executive turnover, especially when the enterprise in question is attempting to engineer a comeback after sustained underperformance in the charts. It also points to internal chaos. As Barron’s noted, this is Under Armour’s third CEO transition since 2019 when Plank first stepped down.

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