Letter Perfect: Under Armour Changing Stock Ticker Symbols Of Class A, Class C Shares

Under Armour plans to "change the ticker symbols” of its Class A and its Class C shares “in order to bring further distinction between the two, whose prices have been separated by a wide margin,” according to CNBC's Bill Griffeth. The Class A shares, which contain voting rights and "currently trade under the company’s ticker symbol UA" on the NYSE, will change to UAA. The company’s Class C shares, which “trade at a big discount” to the Class A shares by about 20%, will change from UA.C to UA. The change becomes effective "at the start of trading" on Dec. 7. Griffeth asked, "Have you seen the shares today? They have boomed. I think companies realize now that the way to achieve great shareholder value is to buyback your shares, increase your dividend and change your ticker symbol.” CNBC’s Sara Eisen noted Nike “is now the worst performer in the Dow” and the athleisure category is now “looking more faddish.” Griffeth: “The markets fell asleep on that one” (“Closing Bell,” CNBC, 11/28).