Hedgeye CEO Keith McCullough is adding Under Armour (UAA) to the long side of Investing Ideas. Below is a brief note.
The uninformed volume that chased Monday morning's #vaccine highs just learned a great lesson about risk management... or did they?
Personally, I like buying things when they are on sale. Stocks do go down. And one of Retail analyst Brian McGough's new long ideas, Under Armour (UAA), is down -3% here into the close.
Here's a summary excerpt from Brian's recent Institutional Research note on the name:
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Taking UAA higher on our Long Bias List. One step closer to being a Best Idea Long. The reality is that this brand has been left for dead. If you look at the company’s Apparel sales in the quarter – down 6% -- that rings true. But I was definitely encouraged by the 19% increase we saw in UAA’s footwear business in the quarter reported on Friday. Footwear is a far more defendable business that apparel, and UA is seeing progress in that corner. |
Buyem on red so that you're not a chaser on green,
KM