Under Armour (UA) 50 Cents away from 52-week low

Under Armour, Inc. (NYSE:UA) keeps taking a beating.  Now the Short Float is at 70% and shares are just above $25. But Georges Yared is saying they are the next Nike.  Really?

Yared wrote last Friday: The next Nike is Under Armour  and had this to say:

Nike will hit about $20 billion of revenues this year while Under Armour should approach $765 million. Nike has a market capitalization of $32.8 billion, which dwarfs Under Armour's $1.4 billion market cap. The opportunity for Under Armour is a faster, more sustainable growth rate of 20%+ for the next 3-5 years, as Nike should hold a steady 10% growth rate.

Under Armour has a global opportunity in front of it. Currently Under Armour sells in the United States, Canada, Australia and New Zealand. Nike has enjoyed a 31-year head start on Under Armour, but the world is ready for this emerging, strong second player.

He could be right, but the Bears are controlling the UA share price and float.  At some point, value investors have to see the light, but the question is when?

Summer Olympics in Beijing could be the only catalyst for UA in the next few months.  Other than that, the Recession is killing this stock. 

Exercise caution Masters.