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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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Bloomberg broke the news in United States on Thursday, February 9, 2023.
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