Under Armour's Jacked Up

The company's shares pop nearly 100% from the IPO price.
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Under Armour

(UARM)

is like

Transmeta

(TMTA)

in no way, save one -- the last company to see a first-day pop of 100% was the microprocessor outfit five years ago, until now.

The Baltimore-based athletic apparel maker priced an IPO of 12.1 million shares at $13 each, but the stock hasn't even been close to that puny level.

Under Armour's shares opened at $31 and were lately going for $25.62, up $12.62 from the pricing. Nearly 16 million shares had traded.

Under Armour was founded by 33-year-old Kevin Plank, a former football player at the University of Maryland and the company's CEO. Known for its "protect this house" catch phrase, Under Armour sells socks, shirts, shorts and other sports clothes.

The company supplies Major League Lacrosse, Major League Soccer, the National Hockey League, USA Baseball and the U.S. Ski Team. Under Armour is also worn by numerous NFL and college football players, the company says.