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I’m Ashay Jorel.
I’m Devin Kalel.
Today is June 3, 2016.
Why are all the shorts piling on Under Armour (UA)?
It’s the most heavily shorted stock in the S&P 500.
33% of its shares are shorted.
Under Armour has lost 25% of its value since September 2015.
It’s not because the Cavs and LeBron James, a huge Nike (NKE) client, beat the Warriors and Steph Curry, a huge Under Armour client.
After all, the Warriors might make the NBA Finals again next year.
Especially if Kevin Durant signs with Golden State.
KD, stay in O.K.C.
Create your legacy with the Thunder.
Thor may be the God of Thunder, but you could be a legend in O.K.C.
The shorts are betting against Under Armour because Sports Authority, one of Under Armour’s largest customers, liquidated after filing for bankruptcy.
So Under Armour had to lower its sales projections.
Under Armour reports earnings sometime between July 21st-25th.
It’s beaten earnings estimates the past 8 quarters.
If Under Armour has a great report, the shorts will have to cover and the stock could soar.
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