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The Sports Index stock of the week: Anta Sports Products. Sports stock market benchmark
Or should we say shock of the week? Global economic alliances are being re-negotiated by the minute in the `Donroe Doctrine' era of (by most appearances) chaotic import tariff policy, not to mention radical shifts in longstanding geopolitical security partnerships that are tossed aside seemingly with abandon. While one deal - even one involving two major players in the sports apparel industry - is by no means indicative of a broader trend, The Sports Index takes note of a possible harbinger of things to come.
Chinese sports apparel, sneaker manufacturer and sporting goods wholesaler/retailer Anta Sports Products (2020:HONG KONG, ANPDF and ANPDY:OTC) announced it would be acquiring a 29% stake in Germany-based athletic apparel and sneaker provider Puma SE (PUM:XETRA, PUMSY:OTC) for a reported $1.7 billion, "further strengthening globalization strategy," per Businesswire. Puma shares spiked on the news and Anta shares gained midweek as well. Anta's foray into Puma could be a precursor to Anta - now the largest individual shareholder in Puma - making a play for a majority, controlling stake, which would give it unfettered access to Puma's stable of marquee athlete endorsers, most notably many international soccer and track and field stars. Additionally, Puma has among their stable of athletes NBA star LeMelo Ball, whose Charlotte Hornets are one of the hottest teams in the league during the past few weeks. This week, Puma launched a LeMelo Ball "Fast & Furious" sneaker collection, reports Sports Illustrated. NBA star Kyrie Irving and his Dallas Mavericks teammate, Klay Thompson, are both Anta endorsers.
We may be witnessing an initial repercussion - in part - stemming from hefty Trump Administration import tariffs levied against many nations, most notably China, where Europe and other longstanding American allies are now forced to forge alternative partnerships to gird for what promises to be even more worldwide economic sea-change and potential upheaval. The Sports Index has been chronicling the new tariff in town and some of these issues are covered in other sections of today's BULL-etin as well. There are many American sporting goods and athletic apparel and sneaker companies that have significant manufacturing partnerships across Asia and the interconnected globe. Almost without exception, every single one is experiencing tariff headwinds, resulting many times in increased costs to the public and what many have labeled a defacto tariff tax on US consumers.
BULL-BEAR Leaderboard © by The Sports Index sports stock market sports business
BULL-BEAR Leaderboard © by The Sports Index sports stock market sports business
BULL-BEAR Leaderboard © tracking the top and bottom performers in each of our 12 proprietary stock market indices, plus peripherally-related casino gaming companies as well as exchange traded funds.
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