To stay relevant, Altria invested billions in the e-cigarette maker Juul and the cannabis company Cronos -- but the former caused big writedowns, and the latter hasn't generated any meaningful revenue yet. The S&P 500 is hovering near all-time highs, but many individual stocks have underperformed the market this year amid concerns about rising bond yields, inflation, and post-pandemic slowdowns in certain sectors. Its founder and former CEO Kevin Plank, who stepped down in 2019, expanded UA into fitness trackers and mobile apps, but couldn't keep pace with Nike and Adidas' direct-to-consumer expansion strategies.