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Investors are so accustomed to problems at Under Armour that most haven’t noticed the changes now under way.
In sports, there’s nothing like a good underdog story. The same might be true of investing. Under Armour checks both boxes.
For years, investors had good reason to avoid the athletic-apparel and footwear maker. From questionable leadership decisions to accounting woes and disappointing acquisitions, Under Armour (ticker: UAA) lurched from one problem to the next, while higher sales failed to do much for the bottom line. The stock, at a recent $15.47, has gone virtually nowhere in the past four years.
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