Under Armour Still Doesn't Curry My Favor

I am constantly on the hunt for value plays. Sometimes I'll reject an idea that is not all that compelling and file it away for future reference. These often are names that have been beaten down, and the objective is to determine whether the market's punishment has been greater than what is deserved.  In such cases, I may take a position. The market has a habit of both over-rewarding stocks with good news and over-punishing those with challenges; these inefficiencies can create great opportunities, and it is one of the aspects of investing that makes it all so interesting.

Last April, I wrote about Under Armour Inc. (UAA) , which at that time was down more than 50% over the previous year. A disappointing fourth-quarter earnings report in January sent the shares down 26% in one day alone.  As much as the stock had been hammered, at the time it did not seem cheap enough to me. I've always liked the story and have been impressed with founder Kevin Plank (despite all of the knocks he has taken in the press recently), but the value just was not there in my view....239 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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