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Published 1 year ago

Adidas shares tank after it issues warning over unsold Yeezy stock

Summary by Ground News
Adidas shares plummeted after the company said it could lose around 1.2 billion euros ($1.3 billion) in revenue in 2023 if it is unable to sell Yeezy stock. The sportswear giant cut ties with West, known as Ye, after he posted anti-Semitic comments on social media. The announcement marks the company's fourth profit warning since July.

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