What's Going On With Lululemon Stock?
Portfolio Pulse from Erica Kollmann
Lululemon Athletica Inc. (NASDAQ:LULU) shares are trading lower due to broader market declines and disappointing earnings. The Nasdaq Composite is down over 500 points, led by Tesla and Alphabet. Lululemon's recent earnings report showed lower-than-expected revenue growth and cautious guidance, causing the stock to hit new 52-week lows. Analysts have mixed ratings but see potential upside.
July 24, 2024 | 6:00 pm
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NEGATIVE IMPACT
Lululemon Athletica shares are down due to disappointing earnings and broader market declines. The company's recent earnings report showed lower-than-expected revenue growth and cautious guidance, leading to new 52-week lows.
Lululemon's lower-than-expected revenue growth and cautious guidance have led to a significant drop in its stock price. The broader market decline, led by tech giants Tesla and Alphabet, has also contributed to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Nike shares are trading near 52-week lows, contributing to the negative sentiment in the retail sector. The broader market decline and disappointing earnings from peers like Lululemon are impacting Nike's stock.
Nike's stock is being affected by the broader market decline and negative sentiment in the retail sector, exacerbated by disappointing earnings from peers like Lululemon.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50