Adidas stock fell over 2% following the early exit of the German national football team from the World Cup.

The decline reflects concerns over plummeting sales of German national jerseys, which Adidas CEO Björn Gulden previously touted as a potential bestseller, aiming for over one billion euros in revenue from the tournament.

Despite the initial drop, Adidas shares recovered slightly, aided by a Citigroup upgrade and the ongoing participation of 13 other teams sponsored by the brand in the tournament.