We recently published a list of Jim Cramer Nailed These 11 Stock Predictions. In this article, we are going to take a look at where Under Armour, Inc. (NYSE:UA) stands against other stocks that Jim Cramer discusses.
Back in 2024, on May 17, a caller asked about Under Armour, Inc., which had struggled to compete in the athletic apparel market. Cramer praised the founder but was cautious on the stock due to intense competition back then:
“I am a huge supporter of Kevin Plank. I am not a huge supporter of the stock — and the reason is because there is nothing more competitive than that industry. I bet you if Kevin had chosen another industry, he’d be crushing it. But you’re up against Nike, you’re up against HOKA, you’re up against New Balance. These are just serious competitors, and you’ve got to be on your game every second.”
Under Armour struggled to compete as he anticipated, declining 4.37% and staying out of favor with investors. Under Armour, Inc. is losing ground in the apparel wars as newer, faster-growing rivals steal market share in activewear.
A group of professional athletes wearing the company’s performance apparel in a sports event.
Cramer admitted that it wasn’t the best call. Here’s what he said in February this year:
“Under Armour is one where you have to admit the guy, Kevin, made a cold shot he said it’s going to get better from here.”
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This article is originally published at Insider Monkey.
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