Puma Bid Talk Offers Small Solace as Stock Heads for Worst Year

For shareholders of Puma SE, 2025 has been a year to forget, with recent reports of a possible takeover providing only the thinnest of silver linings.

While the stock bounced off its lows last week, it’s still down 54% year-to-date, putting the German sportswear company on track for its worst annual showing on record. Analysts see little, if any recovery over the next 12 months.