Adidas shares staged a significant intraday recovery on Tuesday, erasing most of their early losses after the German national football team was eliminated from the 2026 World Cup.
The sportswear giant's stock initially sold off sharply in European trading, dropping more than 3% to touch €175.15, as investors reacted to the sporting disappointment.
2% to 24,851 points amid a broad-based sell-off that spilled over from Asian markets, managed to stabilize.
However, the sell-off proved short-lived as the broader market found support.
The DAX index, which had opened sharply lower on Tuesday, sliding 1.2% to 24,851 points amid a broad-based sell-off that spilled over from Asian markets, managed to stabilize.
This broader market resilience provided a tailwind for Adidas, allowing the stock to rebound significantly from its lows.
The German benchmark is currently testing support around the psychological 25,000 level, with the Adidas recovery contributing to the stabilization effort.