“Wall Street isn’t pleased that Kevin Plank is returning as Under Armour’s CEO, shares plunge 12%”
March 21, 2024
“…Shares of the athletic apparel company plunged about 12% on Thursday after the retailer announced late Wednesday that CEO Stephanie Linnartz would be stepping down after barely a year on the job and Plank would replace her on April 1.
Following the announcement, both Williams Trading and Evercore ISI downgraded Under Armour and lowered their price targets. Williams Trading rated it a hold from buy and lowered its price target from $11 to $8, while Evercore downgraded the company to underperform from in line and lowered its price target from $8 to $7…”