Why Under Armour Stock Jumped 18% This Week
Apparel specialist Under Armour (NYSE: UAA) (NYSE: UA) trounced a rising market this week, with gains of roughly 18% through trading on Thursday. The spike added to a significant rally for the stock so far in 2021 and was sparked by positive earnings news.
The company revealed on Tuesday that sales rose 6% in Q3 after adjusting for currency exchange shifts. The increase was stronger than management had expected. It was supported by a generally strong sports apparel industry and a flood of popular product releases.
Image source: Getty Images.
Source Fool.com
