Andrew Willis: As we mentioned a couple of weeks ago, Adidas has been in the news for taking a stand against Ye, formerly known as Kanye, West's offensive remarks. However, the market's reaction was not what you'd expect.
After losing more than half of its value year to date, Adidas stock only dipped moderately until it made up for the loss--and more--on expectations that it is hiring Puma's outgoing CEO.
This incoming executive may have a positive outlook for Adidas, which we share. Equity analyst David Swartz says he does not believe the brand is impaired. and he's looking forward to getting the attention of fans at the upcoming FIFA World Cup, where those signature stripes could make a comeback.
For Morningstar, I'm Andrew Willis.
Check out Morningstar.ca to watch "Why Is Coinbase Stock So Cheap?"