Lululemon Athletica (NASDAQ: LULU) shares plunged 5.73% in pre-market trading on Monday, continuing the downward trend observed in recent sessions. This latest decline follows a significant 10% drop in share price last week, as the athletic apparel retailer grapples with broader market challenges and analyst downgrades.

The pre-market plummet can be attributed to several factors. Firstly, global trade tensions and substantial market downturn have overshadowed Lululemon's recent positive earnings report. Major indices have suffered significant losses, with the broader market experiencing a 9.4% drop influenced by escalating tariff disputes. Additionally, TD Cowen's decision to cut Lululemon's target price from $445 to $370 has likely contributed to the negative sentiment surrounding the stock.

Despite the recent market volatility, analysts maintain a generally positive outlook on Lululemon, with a consensus price target of approximately $361, suggesting potential upside from current trading levels. However, the company faces challenges in navigating potential revenue and earnings disruptions while pursuing its global expansion strategy in an uncertain economic environment. Investors will be closely watching to see if Lululemon can maintain its growth trajectory and eventually realign its stock performance with its fundamental business strength.