This Is The Second Time In 2016 Under Armour Investors Might Be Really Confused

At first glance, it appears shares of Under Armour Inc (NYSE: UA) plummeted 16 percent ahead of Wednesday's market open. However, this isn't the case and is due to a standard but not so common change in tickers.

Under Armour announced at the end of November it would change its familiar Class A Common Stock ticker from "UA" to "UAA." The Class C Common stock will now assume the "UA" ticker and previously traded under the symbol "UA.C."

Under Armour's Class C stock was distributed to investors through the form of a stock dividend earlier this year which had a similar effect of a stock split.

Not The First Time Investors Are Confused

Under Armour's investors faced a similar scare back in April when it appeared that the stock had crashed 50 percent.

Similarly, what appeared to be a large selloff in Under Armour's stock on April 8 was actually the result of the new Class C stock coming into effect. Several stock quote providers even showed that Under Armour's stock had gained 100 percent.

When adjusted for the issuance, Under Armour's stock opened lower by nearly 2 percent back in April as selling pressure from the confusion likely played a role. It has yet to be seen if the same confusion and panic will play a factor in Wednesday's trading session.