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Adidas Soars 8% on Surging Profit & Upgraded GuidanceAdidas ( OTC:ADDYY ), the German sportswear giant, has sent shockwaves through the market with an unexpected surge in first-quarter profits and a bold revision of its full-year guidance. Buoyed by robust sales performance and strategic initiatives, Adidas ( OTC:ADDYY ) has captured investor attention by raising expectations for revenue and operating profit in 2024. 1. Profit Surge and Upgraded Guidance: Adidas' first-quarter profit has witnessed a remarkable year-on-year increase, propelling the company to revise its full-year guidance upwards. With an 8% jump in shares reflecting investor confidence, Adidas ( OTC:ADDYY ) now forecasts a mid-to-high-single-digit growth in currency-neutral revenues for 2024, signaling optimism and resilience in the face of market challenges. 2. Strategic Inventory Management: Adidas' decision to divest its Yeezy inventory following the split with rapper Kanye West has proven to be a strategic masterstroke. Anticipating additional sales of around 200 million euros from the remaining Yeezy inventory, Adidas ( OTC:ADDYY ) has demonstrated agility and foresight in optimizing its product portfolio to drive profitability and shareholder value. 3. Operational Resilience and Growth Momentum: Despite facing headwinds from unfavorable currency effects, Adidas' first-quarter operating profit soared to 336 million euros, showcasing operational resilience and efficient cost management. Analysts anticipate a steadily improving sales trajectory throughout the year, fueled by the momentum of Adidas' core brand and strategic partnerships with marquee sporting events. 4. Brand Momentum and Market Perception: UBS analysts highlight Adidas ( OTC:ADDYY ) as one of the "best earnings momentum stories in the space," underscoring the brand's rapidly accelerating momentum and market appeal. With a packed summer sporting calendar and investments in performance shoes, Adidas ( OTC:ADDYY ) is poised to capitalize on consumer demand and solidify its position as a global sportswear leader. 5. Strategic Partnerships and Product Innovation: Adidas' partnerships with high-profile events like the Olympics, Paralympics, EURO 24, and Copa events further bolster its brand visibility and market penetration. The focus on performance shoes and the resurgence of the Terrace footwear brand signal Adidas' commitment to innovation and meeting evolving consumer preferences. Technical Outlook Adidas ( OTC:ADDYY ) stock is riding hard on the bullish train with a positive Relative Strength Index (RSI) of 67.12 indicating bullish momentum. The stock is trading above the 200, 100 & 50- Day Moving Averages respectively.
OTC:ADDYYLong
by DEXWireNews
It's NO SECRET, I'm shorting AdidasIt's no secret that I've been looking to short Adidas for weeks before the Bearish Bat Pattern show up. As a trader, I love to wait for the precise price with candlesticks confirmation before engaging my trade; hence I miss the first opportunity. And that's ok! In trading, I have this philosophy that is better to miss a trade than to engage in a trade at a price of disadvantage. So here I am, trading for the past 18 years. At this moment, I'm waiting for the Bearish Shark Pattern to form up on the 8 range bar chart to give me a second chance entry to get on this ride.
XETR:ADSShort
by RaynLim