In the 2010s, there was one tiny American brand doing what no one else had been able to do for decades in sportswear. It had grown sales in North America at double digits every year for 13 years, taken market share from Nike, and leapfrogged Adidas as the new number #2 athletic brand in the United States. It was an upstart with a passionate fanbase, competed on quality over price, and backed by some of the most celebrated athletes in the world. This was Under Armour. In the eyes of the media and investors, the fast-growing Under Armour was the closest to a Nike slayer that the industry had ever seen - and that enormous potential was quickly priced into the stock. Yet fast forward to the present - just a few years after the hype and my own experiences, Under Armor is a shadow of its former self and is worth only a little more than a penny stock. Declining sales, executive turnover, failed pivots, expensed trips to strip clubs, and federal investigations into dodgy accounting hav