Adidas stock has been in rally mode since the beginning of October and the overall decent Q3 figures have supported the paper. In particular, the title has gained considerable momentum in the last few trading days and is currently trading at around 185 euros (as of November 21, around 12 noon).

This means that the annual high of the DAX company is not far away, Adidas stock reached 188.60 euros in August. Adidas seems to have left the valley of tears behind it, and most investors are now looking at the sports giant with confidence again.

Adidas with fewer problems and more hope The scandal surrounding the collaboration with Kanye West has weighed on Adidas for many months. In recent quarters, overstocked warehouses and weak China business have also caused bad moods. There is now light at the end of the tunnel on several fronts – and there are high hopes for 2024.

This year Adidas is in full transition mode, with the company recently trying to get rid of expensive Yeezy products (by Kanye West). The sale of the shoes brought in a respectable 750 million euros in two waves – this time last year it was around 1.2 billion euros.

Since the Yeezy special sale has gone better than expected, Adidas has been able to adjust its forecast for the current year and now only expects a loss of 100 million euros. The DAX company is also making steady progress on the warehouse front.

Adidas stock: Now the future is being traded On the stock exchange the future is traded – and at Adidas it looks much more friendly again. Even though the company still has to work on its high inventory levels and the economic outlook for 2024 is not yet intoxicating, the chances also outweigh the risks for investors.

Since the beginning of the year, Adidas stock has gained considerable momentum, but it is still a long way to the prices from 2019 or 2021. In the medium term, the paper still has further catching-up potential. And if the annual high or even the mark of 200 euros were to fall soon, the way would already be paved for even higher prices.