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.
5 Reasons You Need To Know Daveed Diggs
If you don’t know the name Daveed Diggs you will now! The Oakland native is definitely one to watch in Hollywood. Here are five reasons why.
1. He has already taken Broadway by storm.
In 2016 Diggs nabbed a Tony and a Grammy award for his role as Marquis de Lafayette/ Thomas Jefferson in “Hamilton.” Believe it or not Diggs didn’t even audition for the role. While substitute teaching in Marin County, CA he met Hamilton’s eventual star and creator Lin Manuel-Miranda and director, Thomas Kail who invited him to join their free-style rap group and later helped them craft the fast-rapping revolutionary.
2. He’s funny.
Diggs is proving he’s also got some amazing comedy chops with two memorable recurring sitcom roles: one as Perry, the crush du jour for Kimmy (Ellie Kemper) on Netflix’s Unbreakable Kimmy Schmidt, and the other on ABC’s black-ish as Johan, the free-spirited brother of Rainbow (Tracee Ellis Ross). In fact, Black-ish creator Kenya Barris wrote the role for Diggs after being “blown away” by his performance on stage.
3. His first feature film Wonder is in theaters now.
In the film based on the New York Times best-selling novel of the same name, Diggs plays Mr. Browne the fifth grade teacher at the school where lead Jacob Tremblay attends. Diggs landed the role after wrapping his run in “Hamilton” and told HH it was like a crash course in film acting alongside Julia Roberts and Owen Wilson.
4. He’s a rapper.
His experimental noise rap group Clipping has garnered a major cult following on Youtube. Their LP CLPPNG was an Album Of The Week back in 2014. And in 2016 the trio performed on The Late Late Show with James Corden to promote the release of their six-track EP Wriggle.
5. He is executive producer of ABC’s The Mayor.
The show about a struggling young rapper (Brandon Micheal Hall) who runs for local office (and wins) to boost his popularity, debuted this Fall and already is garnering wave reviews. Not surprisingly Diggs and his Clipping bandmates William Hutson and Jonathan Snipes, also produce all the music for the show.
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