Momentum works against Lululemon

|About: Lululemon Athletica Inc. (LULU)|By:, SA News Editor

Lululemon (LULU -2.2%) trades lower again on heavy volume as the retailer continues to have trouble getting its groove back.

Shares are now down 17% since the announcement came that the company had finally found a new CEO, an event which some analysts forecast would be a cause for a rally.

Investment firms are resetting expectations on Lululemon with Canacaccord Genuity, UBS, and Janney Montgomery all pulling down their PTs a few levels recently.

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