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Under Armour stock falls amid removal from S&P 500, analyst downgrade

·2 min read
Under Armour stock falls amid removal from S&P 500, analyst downgrade
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The drop came as the stock market as a whole rebounded Tuesday, with the Dow Jones industrial average, the NASDAQ composite and the S&P 500 all gaining around 2%. The decrease comes after Under Armour shares (NYSE: UAA) experienced the 10th highest trading day by volume in its history as a public company on Friday, with a trading volume of 53.8 million, according to Yahoo Finance data. The high trading volume is likely due to Under Armour’s removal from the S&P 500, an index of stocks for 500 large-cap companies.