Under Armour's Stock Plunge On Track For Biggest-ever One-day Loss

By Tomi Kilgore Markets MarketWatch Pulse

Under Armour Inc.'s Class A shares plunged 26.9% toward a three-year low in active premarket trade Tuesday, after the athletic apparel and accessories maker reported disappointing fourth-quarter results and said Chief Financial Officer Chip Molloy was leaving for personal reasons. Volume hit 480,000 shares two hours ahead of the open, making the stock the premarket's fourth-most active. The stock is danger of suffering the biggest one-day percentage decline since it went public on Nov. 18, 2005. The previous biggest decline was 24.4% on Jan. 18, 2008, in the midst of the Great Recession. Shares of Under Armour's rivals were also taking a hit, with Nike Inc.'s stock shedding 2.3% ahead of the open. Under Armour's stock had already plunged 34% over the past 12 months through Monday, while Nike shares had lost 14% and the S&P 500 has rallied 18%.

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