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Mark Holder

Under Armour: Looking For A Bottom...Not Yet

Under Armour (UA)(UAA) is down another 3% today on a big warning from Finish Line (FINL). The new lows are not a good sign that the stock has found a bottom yet. 

The weakness from a mall retailer of athletic footwear focused on Nike (NKE) footwear isn't really that surprising. The DTC plans of Nike are making this business difficult. Other sector players have had equally weak numbers so this news is far from surprising. 

As far as Under Armour, the stock is cheap now. The time to buy will be when the stock rallies on bad news. Clearly, not today. 

More research: Under Armour: Nothing Unexpected

Disclosure: Long UA (small position) 

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