Under Armour Inc (NYSE:UAA) shares are trading lower by $7.00 (25 percent) at $21.94 in Tuesday's session. The issue is being punished for a rare EPS and revenue miss.
In Q4, the company reported an EPS miss of $0.02 along with a $110 million miss for revenues. The company also announced the exit of its CFO for personal reasons and lowered FY 2017 guidance by nearly $500 million.
However, after a washout shortly after the opening print of $21.00 at $20.80, the issue is attempting to mount a comeback. That low comes in just above its January 2014 low of $20.49. Since making that low, it has continued to make highs for the session with the current one standing at $22.16.
Obviously, new money is coming into the beaten down issue or short-sellers are locking in some profits from its 25 percent decline.
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