Under Armour stock was down nearly 5.5 percent in trading on Monday, a day after high-profile endorser Jordan Spieth collapsed at the Masters.
Spieth blew a five-shot lead entering the back-9 in the final round of the Masters and lost what could have been his second consecutive green jacket. His collapse was considered one of the worst in golf history.
Spieth is one of the athletes most strongly associated with Under Armour’s brand, along with reigning NBA MVP Steph Curry and reigning NFL MVP Cam Newton. The Texas-based golfer signed a 10-year deal with UA last year.
Also affecting trading was a report from a Morgan Stanley analyst saying that it appears Under Armour’s domestic sales growth has slowed.
As major brand endorsers for Under Armour, Spieth and Curry are pretty close. Curry had a tough reaction to hearing of Spieth’s collapse:
when you find out Spieth put two in the water at #TheMasters pic.twitter.com/XtIxU0BApo
— Julie Phayer (@juliephayer) April 10, 2016
If Under Armour could survive this past controversy, they’ll surely rebound from Spieth’s collapse. They chose wisely with their investment in the young golfer; he’ll be back on top.
