Traders Having A Field Day Betting Against Under Armour

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One of the safest bets in the flailing retail sector this year has been to short the worst-performing companies. Under Armour has fit that strategy to a tee, and Tuesday’s disastrous earnings report further fattened the bank accounts of traders betting against it.Amid the company’s 22% single-day drop, short sellers reaped a whopping $251 million in mark-to-market profits, according to data compiled by the financial-analytics firm S3 Partners.

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