Michael Burry's Lululemon Bet Takes A Hit As LULU Crashes To Lowest Level Since 2018: Gary Black Warns Of 'Intense Competition'

Lululemon Athletic (LULU) stock plummeted over 11% in after-hours trading to its lowest level since 2018 after the company cut full-year guidance due to execution issues and softening traffic. The guidance cut triggered a technical meltdown, with the stock down 39.89% year-to-date compared to Nasdaq's 15.47% gain. While contrarian investor Michael Burry maintains his position, hedge fund manager Gary Black criticized the company's governance and intense competition from brands like Vuori, Alo, and Skims.