This Is The Second Time In 2016 Under Armour Investors Might Be Really Confused

At first glance, it appears shares of Under Armour Inc UA plummeted 16 percent ahead of Wednesday's market open. However, this isn't the case and is due to a standard but not so common change in tickers.

Under Armour announced at the end of November it would change its familiar Class A Common Stock ticker from "UA" to "UAA." The Class C Common stock will now assume the "UA" ticker and previously traded under the symbol "UA.C."

Under Armour's Class C stock was distributed to investors through the form of a stock dividend earlier this year which had a similar effect of a stock split.

Not The First Time Investors Are Confused

Under Armour's investors faced a similar scare back in April when it appeared that the stock had crashed 50 percent.

Similarly, what appeared to be a large selloff in Under Armour's stock on April 8 was actually the result of the new Class C stock coming into effect. Several stock quote providers even showed that Under Armour's stock had gained 100 percent.

When adjusted for the issuance, Under Armour's stock opened lower by nearly 2 percent back in April as selling pressure from the confusion likely played a role. It has yet to be seen if the same confusion and panic will play a factor in Wednesday's trading session.

Posted In: NewsEducationLegalTop StoriesGeneralunder armourUnder Armour Class CUnder Armour Stock
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