UA faces a $3-4B revenue ceiling; expansion beyond this niche carries high risk, lower profitability, and slower growth.

A brand like this. I remember here my colleagues in Amsterdam they were some of their spouses were working at under arour. Should we buy stocks at 15% discount? I told them if you think Under Arour will be a better business in 5 to 10 years that didn't happen.

Similarly, under armor, net profit margins, strong growing, going public, and then it goes into the trash like old smelly shoes. Wall Street is all about growth. As long as a new public company can grow is good.

If it starts decelerating, it gets ugly. And the question is, can the company double in the next 5 years? It's a pure pet of growth.

But when it comes to fashion stocks, Under Arour, this that there is this three 4 billion ceiling that they hit and then they pass the niche and they they need to expand into new markets.

That's very expensive, very risky, less profitability, lower margins, slower growth. They then compete with the big boys and that's the business risk.