Adidas shares drop 18% in Frankfurt — the company's worst single-day loss ever

Adidas shares fell by nearly 18% on the Frankfurt stock exchange, marking the company's largest single-day loss ever and potentially wiping €5.5 billion off its market capitalisation. The drop came paradoxically during an earnings conference at which Adidas raised its sales forecast, projecting growth of 9–10% this year. Investors reacted negatively to a sharp increase in marketing expenditure.