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Lululemon Athletica Inc (NASDAQ:LULU) has an unhappy shareholder: Barstool Sports founder Dave Portnoy.
Lululemon said, in conjunction with its fourth-quarter earnings report, it has to withdraw its financial guidance for the new year because of uncertainty brought on by the coronavirus.
Rookie day-trader Portnoy said on Fox Business he bought a "ton" of shares, $3 million worth to be precise, prior to the earnings report. Lululemon's stock was lower by more than 5% on Friday and Portnoy was sitting on a loss.
"I got my shirt taken from me," Portnoy told Stuart Varney on Fox Business.
Quite disrespectful to have the the preeminent day trader in the nation on a stock market show and not ask him about stocks. @Varneyco pic.twitter.com/b0e2BwL2ph
— Dave Portnoy (@stoolpresidente) March 27, 2020
See Also: Dave Portnoy And Jim Cramer Talk Stock Market, Nordic American And More
But Portnoy seems unconcerned with his loss as he said he is "loaded -- at least I was before the market crashed."
Barstool sold a part of its business to Penn National Gaming, Inc (NASDAQ:PENN) earlier this year. Portnoy said the size of the deal is "so big, I'm trying to get to, like, buy [a] sports team-type mogul."
Lululemon's stock traded down 5.36% to $190.04 per share at time of publication.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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