Lululemon Athletica Stock News: LULU drained nearly 16% on trimmed sales outlook

• Lululemon Athletica plunges below $400 for first time in five months.
• Full-year guidance cut to $250 million below consensus.
• LULU stock halts fall near long-time support of $386.50.
• Q4 earnings and revenue arrive above consensus.

Wall Street favorite Lululemon Athletica (LULU) stock took a punch to the gut on Friday after management’s 2024 revenue outlook underwhelmed analysts. The athleisure stock fell more than 18% at one point to $387, dropping below $400 for the first time since last November. However, LULU stock recovered somewhat to $403.19, down 15.8%, by the close close.