Adidas stock falls to six-week low

Adidas shares remained under pressure on Friday. The downward spiral intensified, with the share price temporarily falling by 5.6 percent to a six-week low in Xetra trading.

The discount most recently stood at 3.3 percent. At 170.60 euros (194.22 dollars), the shares have now fallen below the 50-day line, having already dropped below the 21-day line a few days ago. This further clouds the short-term technical chart outlook.

Traders cited disappointment over the lack of preliminary figures, which might have contained positive news, released a week ahead of the quarterly report. This absence had a negative impact during after-hours trading. The market had hoped for positive news for the second quarter, driven by the Football World Cup.

This hope for preliminary figures was based on the market's experience, as they are often released a week before the actual quarterly report. Last year, this was the case in October and April. This pattern is beginning to break, as there was no preliminary report in April.

Since hitting a 2023 low in March, Adidas shares had been on a rally from April, peaking at almost 188.80 euros in early July during the Football World Cup. Since then, they have lost 11 percent of their value.

On Friday, the pressures only affected Adidas itself. Puma shares managed to end the week with a moderate gain.