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Why Under Armour Stock Fell Monday

TheMotleyFool

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Shares of sports apparel specialist Under Armour (NYSE: UA) (NYSE: UAA) tumbled on Monday. As of 10:48 a.m. EST, the stock was down about 15%.

The decline came despite Under Armour reporting better-than-expected third-quarter earnings per share and revenue. The bearish sentiment was primarily due to the company's lowered full-year revenue outlook and news that Under Armour's accounting practices are under investigation by the Securities and Exchange Commission (SEC) and the Justice Department.

Image source: Getty Images.

Source Fool.com

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