Under Armour: An Apparel Short With Several Ways To Win

UA and other apparel stocks have gained nicely over the past few weeks. Both rallies are likely to reverse.

📍 TLDR

• UAA has soared along with other apparel plays — despite posting a soft outlook in its most recent earnings report.

• The optimism towards the sector looks overdone, which only adds to the sense the rally in UAA should reverse.

• After the gains, UAA is pricing in growth from this point onward.

• Given history and a volatile and difficult environment, bett…