Shares of apparel manufacturer Under Armour, Inc., raised $157 million at the company's initial public offering in November 2005 and then grew in value over the next decade and a half to a market capitalization of $22 billion by October 2015, according to MarketWatch and Yahoo Finance. The company's stock achieved a significant milestone in April 2014, when Under Armour became a component of the Standard & Poor's 500 stock index.
Former University of Maryland football player Kevin Plank founded Under Armour in 1996 with one product, a moisture-wicking T-shirt, according to Under Armour's official site. The company grew to earn $281 million in revenue in 2005, the year of its IPO. Shares that cost $13 to initial investors closed at $25.01 on their first day of trading, reported MarketWatch. The company began producing footwear in 2008 and opened its first retail store in 2010, a year that saw annual revenue exceed $1 billion, according to Under Armour.
Despite the company's growth, Under Armour shares fell from a high of $73.40 in August 2007 to a low of $11.94 in March 2009, according to Yahoo Finance. From that bottom, shares rallied to reach the $100 mark by 2012, prompting a 2:1 stock split in July 2012. After the split, shares steadily rose to exceed $100 again by 2014, prompting another 2:1 split in July 2014. Under Armour shares continued to grow and reached the $100 mark again in July 2015.