This rise comes after the company’s new product sold out in less than an hour of its release on Thursday, according to CEO Patrick Frisk. However, Frisk also said more will become available in July.
The “first-of-its-kind performance mask” from Under Armour is designed specifically for athletes and others to use for physical activity. It is reusable, water-resistant and allows for the wearer to breathe comfortably. The three-layer design is meant to “reduce the spread of respiratory droplets by the wearer,” which has been a main point when discussing how to stop the spread of the novel coronavirus.
Here is what Frisk had to say about the product:
“At Under Armour, we always want to be part of the solution, especially during this extremely challenging time. We specifically designed this mask for athletes and for all of us who want to exercise and train while also keeping ourselves, and those around us, safe.”
Moreover, the company said that these performance masks are a development off of its work back in March when it created fabric masks for every day use. Now more than two months later, Under Armour has created viable protection for athletes everywhere. And UAA stock is reaping the benefits.
UAA stock was up more than 5% to open the day Friday, but is now slightly in the red.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.