Under Armour, Inc. (NYSE:UA) stock is moving lower in sympathy with Nike which fell after reporting a first-quarter revenue miss.
What To Know: Nike reported quarterly revenue of $11.59 billion, missing analysts estimate of $11.65 billion. The company broke down revenue further.
Specifically, Nike reported Brand Revenues down 10% percent at $11.1 billion, Direct Revenues down 13% at $4.7 billion, Wholesale Revenues down 8% at $6.4 billion and revenue from Converse down 15% at $501 million.
In addition, the company reported EPS of 70 cents beating analysts estimate of 52 cents. Nike also reported inventories of $8.3 billion, down 5% compared to the prior year.
Nike is the largest sportswear company in the world, while Under Armour, though smaller, emphasizes performance-driven gear.
How To Buy Under Armour Shares
By now you're likely curious about how to participate in the market for Under Armour (NYSE:UA) – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
Related Link: What Happened With Rivian Stock Today?
UA Price Action: Under Armour stock is trading 2.69% lower at $8.13 as of Wednesday morning per data from Benzinga Pro.
Image: Photo via Shutterstock
