Shares of Adidas opened weak on Wednesday despite premarket gains. Most recently they lost 2.1 percent to 190.70 euros. Stock marketers had already thought profit-taking was possible in the morning after the sporting goods manufacturer had raised its forecast the evening before, but the shares had recently been trading at their highest price level since the end of July.
The strong price development since the beginning of September suggests that investors were already anticipating a strong interim report, UBS said after the key figures for the third quarter.
Overall, analysts remain very confident about the future development of Herzogenaurach. Felix Dennl from Bankhaus Metzler, for example, expects an above-average development for several years and considers a valuation premium to be appropriate.
From a chart perspective, the picture could become a little cloudier in the short term with the losses. The upward trend since the beginning of September appears to be at risk. Since the beginning of the year, things have been looking poor for Adidas: the loss is almost a fifth. This makes Adidas the third weakest stock in the Dax.