Under Armour's stock experienced a sharp decline intraday on Tuesday, plummeting 7.96% as trading continued.

The downward movement followed a pre-market drop and was primarily driven by Citi's decision to downgrade the company's stock from Neutral to Sell. The firm maintained a price target of $6.20 and expressed concerns about Under Armour's turnaround prospects in the North American market.

The downgrade reflects growing analyst skepticism regarding the company's ability to execute a successful recovery in its key home market, weighing heavily on investor sentiment during the session.