Diamonds and Dogs

12/30/22

Under Armour (UAA) creeps higher. The fitness athletic wear maker rose 2% and is up 40% in the last two months as the company hired a new CEO, the longtime Marriott International President, Stephanie Linnartz. Under Armour saw unprecedented growth, reporting 26 consecutive quarters with sales growth of 20% or more from 2009 to 2016. But the company has since seen its growth slow, with its stock down close to 50% year to date.

Not a good year for the chip stocks. Dram maker, Micron (MU) fell a percent today, not far from a 52-week low on a downgrade at Argus. The analyst at Argus had little positive to say about the company expecting a greater downturn in their business due to slowing smartphone and consumer electronics sales over the coming quarters. Hopefully much of the bad news is priced in. We will see in 2023.    

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