Under Armour came under fire this week after founder, Kevin Plank, declared his support for President Donald Trump and now we are seeing a shift in the company’s stock.
Several of the company’s sponsored athletes spoke out in opposition to Plank’s remarks, including Misty Copeland, Steph Curry and Dwayne Johnson — but did the celebrity reaction cause a decline in the sports clothing and accessories company’s shares?
Under Armour has been a struggle stock for the past month, but after Plank suggested during an interview with CNBC that The Donald is “a real asset for the country” the shares began to fluctuate.
Following Tuesday’s remarks, shares took a dive, but gradually increased. However, after Copeland’s social media tirade on Thursday, shares took another plunge. As of Friday morning 8:48 PST, the stock appeared to be trending down -1.66%.
The future of UA’s stock is unclear, but if it’s anything like Nordstrom, we might see some drastic changes.
While UA has seen a gradual decline in stock following celebrity disapproval, Nordstrom saw a different movement after a tweet shared by the president himself.
Nordstrom announced last week that they’ve decided to drop the clothing line of Trump’s daughter, Ivanka Trump because of declining sales. “Over the past year, and particularly in the last half of 2016, sales of the brand have steadily declined to the point where it didn’t make good business sense for us to continue with the line for now,” the luxury chain said.
Blasting the company for their business decision, Trump tweeted on Wednesday: “My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!”
But the tweet did the unexpected. While the president probably anticipated the company’s stock to dive, it did the opposite. The social media remark led to a slight drop in stock but quickly jumped back up by day’s end, rising 4 percent.
Is Hollywood Trying To Make Sterling K. Brown The New Denzel Washington?
Sir Sidney Poitier was a force to be reckoned with in the 60’s and 70’s. Denzel Washington came onto the scene in the late 80’s and instantly stole the hearts of women around the world. And we can’t forget about the Blair Underwoods, Morris Chestnuts and the Shemar Moores of the 90’s.
But while many of these men are still around knocking roles out of the ballpark, we can’t help but notice the push for one major newcomer: Sterling K. Brown.
Although having been in the business for some time, it was Brown’s portrayal of Christopher Darden in FX’s The People v. O.J. Simpson that really stole the attention of audiences around the nation.
And if that wasn’t enough, Brown became one of the most idolized characters on NBC’s This Is Us, playing a successful Black man in a successful Black marriage, navigating his way though his relationships with siblings.
Now after picking up two Emmy Awards, there seems to be a big push in the media to make Brown the new universal “it” man. Sure he is the ultimate trifecta — ear to ear smile, impeccable acting chops and a banging body.
But there’s a very direct narrative being told. Is Sterling on his way to becoming Hollywood’s new beef cake? Is Hollywood setting the star up to have the same level of celebrity and placement in this bizarre hierarchy as the beloved Denzel?
On Monday, Brown even appeared on The Ellen DeGeneres show for the first time somehow ended up with his shirt off.
Sure the popular daytime series had a “reason” behind having the actor ride a tractor without his shirt on … but this is clearly another way of reminding the world that the sex appeal is on point.
Needless to say, nobody will replace the many men who have led the way for stars before them. But there’s no doubt the industry is holding it’s arms wide open for Brown to come running in for the largest embrace of a lifetime.
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