Sterne Agee analyst Sam Poser said any weakness in Lululemon Athletica Inc.'s stock , after the yoga gear maker's founder Dennis "Chip" Wilson filed to sell off his entire 20.1 million share stake in the company, "represents a buying opportunity." The stock slumped 2.7% in premarket trade Thursday. "The divestiture finally eliminates Mr. Wilson's influence over the company (this is very good news)," Poser wrote in a note to clients. "This filing does absolutely nothing to change our thesis that the initiatives to improve the product and in-store experience are underway and will likely reestablish [Lululemon] as the pinnacle of the active-wear space and the necessary investments are being made in 2015 to support the global growth of the brand." The stock has run up 20% year to date, and 51% over the past 12 months, outperforming the S&P 500's gains of 2.3% and 8.3%, respectively.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below