Why did Adidas stock drop today?

An RBC downgrade to Sector Perform on 24 January cited risk that 2026 guidance could miss consensus and that hopes for a quick China rebound are fading. The call hit sector sentiment, pushing volume above average and sending the price toward multi-year lows as traders reduced exposure to discretionary names.

Is Adidas stock attractive after this fall?

Valuation is mid-pack at 21.1x TTM P/E and 9.8x EV/EBITDA, with a 1.39% dividend yield. The setup can improve if China demand stabilizes, inventories normalize, and gross margins hold. Until guidance tightens, risk-reward looks balanced, which is consistent with a Hold stance rather than a clear buy.

What technical levels should I watch now?

Near-term resistance sits around €156.60, then the 50-day average at €161.82 and the Bollinger mid-band at €165.28. Key support is €150 and the 52-week low at €142.55. Momentum is soft with RSI at 43 and CCI oversold, so bounces may face supply into the moving averages.

How does China affect the outlook?

China is the main swing factor for growth and margin. Slower sell-through pushes promotions higher and weighs on gross margin. Clear signs of improved full-price sell-out, healthier channel inventories, and better wholesale orders would support a more positive view on revenue and profitability into 2026.

When is the next earnings update?

Adidas is scheduled to report on 4 March 2026. We will look for updates on China sell-through, inventory days, pricing, and gross-margin guidance. Any commentary on Europe wholesale trends and digital momentum will also be key for refining forecasts and assessing the path back to higher margins.

Global Market Insights

ADS.DE Stock Today: January 24 RBC Cut Sends Adidas to 3-Year Low

ByDanny Kontos January 24, 2026January 24, 2026

Adidas stock slid after a fresh downgrade from RBC to Sector Perform on 24 January, citing risk that 2026 guidance could miss consensus as hopes for a China rebound fade. Shares of ADS.DE were last around €152.45, down about 5.7% intraday, with volume above average. The move pressured European peers, and Puma shares fell as well. With valuation, margins, and China demand back in focus, we outline today’s price action, key technical levels, and what German investors should watch into the next earnings update.