Jordan Spieth’s Miss Just Cost Under Armour $140M

jordan spieth_under armour stock price

Jordan Spieth’s British Open failure has wiped $140m off his main sponsor’s valuation 3,000 miles away in New York. 

It seems ridiculous that one missed putt on a golf course could knock $140m off a company’s value, but this is exactly what happened when Jordan Spieth missed his birdie attempt on 18 at St. Andrews for a chance to win the Claret Jug.

Under Armour – Spieth’s sole clothing sponsor – saw its shares crash minutes after the 21 year-old failed to win his third straight major championship.

Spieth came agonisingly close to reaching golfing greatness. A win at The British Open would have catapulted him into sporting stardom. It would have meant the world could watch in anticipation as he tried to achieve the “impossible” – four straight majors in one year. As Spieth’s putt failed to drop, investors scurried to sell shares in Under Armour.

WHAT EXACTLY HAPPENED TO UNDER ARMOUR’S SHARE PRICE

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Share prices are complex beasts and no single factor can be definitely identified as causing a “fluctuation.” On Monday, moments after Spieth failed to win The British Open, shares in Under Armour – which trades on the NYSE – fell from $89.46 six minutes before his missed putt to $88.79 six seconds after it.

While the fall of 67 cents won’t be a cause for concern to Under Armour – which is worth approximately $19bn – the drop still shows a decrease in valuation of around $140m.

Don’t worry, Under Armour have a lot to be thankful for Jordan Spieth. Since his meteoric rise to fame 12 months ago, their shares have risen by almost 50%.