
Wall Street is fed up with Under Armour, Nike and Adidas
CNN
Tripped-up supply chains and a coronavirus surge in China are causing headaches for top athletic brands.
Under Armour (UA) tumbled 25% Friday after the company posted a $60 million loss during its most recent quarter due to supply chain delays and recent Covid-19 lockdowns in China.
Chinese authorities imposed a lockdown in Shanghai, China's financial hub, in late March following a surge in coronavirus cases. Although the government started to lift some restrictions last month, more than 8 million residents are still banned from leaving their residential compounds.

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