Click-Clack — I like Under Armour (UA)
I had been thinking about buying Under Armour (NYSE: UA) for quite a while and I finally pulled the trigger on Tuesday. On Monday, I went to my local Sports Authority to check out what Under Armour had to offer and liked what I saw. Under Armour had a big presence there and had a lot of posters and banners hanging from the wall. I also checked out Under Armour baseball and football cleats and came out impressed.
It just so happened that I caught today’s (Wednesday) Mad Money with Jim Cramer, where Jim gave Under Armour another huge plug. According to Cramer, Under Armour is a Nike in the making and at worst another Reebok. He doesn’t see this as a one time wonder such as LA Gear and Starter. He also touched on take over rumors from Puma which he thinks is just a rumor. I wasn’t aware of any take over rumors when I bought Under Armour and I hope it doesn’t get bought out because I think the potential here is huge.
It’s been well publicized that Under Armour is a very expensive stock but I think the opportunity here is too huge to pass up. I agree with Cramer here that Under Armour is another Nike in the making. The company has the cool factor going for it right now and seems to be doing a great job in marketing and brand awareness.
* I own July 07 Call Options of Under Armour
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