No, Under Armour Shares Are Not Down 50% Today

Under Armour Inc UA shares appear as if they're down 50 percent on Friday, for any trader using Google Finance or a site that scrapes Google Finance quotes. But that's not actually true.

As part of an issuance of Class C stock to existing shareholders, Under Armour's stock has undergone an unofficial "2-for-1 split" in terms of average price. This action was announced in mid-March, but hasn't prevented confusion from investors reading their quote screens.

Under Armour closed Thursday near $86 per share, and presently trades near the $43 mark.

The market capitalization of the company -- what really matters in terms of overall value -- is unchanged.

Strong History Of Earnings Meets Or Beats

As covered earlier, Under Armour has a ridiculous history of earnings in comparison to Wall Street expectations. The company has only missed earnings once -- a 1-cent miss -- in the fourth quarter of 2006. That's in its entire history as a publicly-traded entity.

This streak makes it one of the most consistent stocks out there that historically moves a lot after earnings, as research from Bespoke Investing shows Under Armour moves an average of 8 percent after it reports.

So take a deep breath, investors. Under Armour shares are not down 50 percent, nor are they up 100 percent (as a few select quote services are displaying).

When adjusted for the Class C issuance, Under Armour began Friday's trading down 1.7 percent, selling pressure that may be due to confusion over the company's quote.