Under Armour's Stock Sinks Toward Longest Losing Streak In Its 11 1/2-year Public History
Shares of Under Armour Inc. sank to a near 4-year low in morning trade Friday, and were on track to suffer their longest losing streak since going public in November 2005, in the wake of disappointing results from athletic shoe retailer Foot Locker Inc. . The stock was down as much as 2.9% earlier at an intraday low of $18.35, which was the lowest price seen since Aug. 20, 2013. It was recently down 1.5%, and in danger of its 8th-straight loss. The stock had previously suffered losing streaks of as long as 7 sessions four times, in April 2017, October 2016, February 2016 and September 2008. Weighing on the athletic apparel and accessories company's stock, Foot Locker shares plunged 16% after the retailer's fiscal first-quarter results missed profit, revenue and same-store sales expectations. Under Armour shares have plunged 36% year to date, while rival Nike Inc.'s stock has gained 1.1% and the S&P 500 has advanced 6.4%.
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