Nike Sinks to 12-Year Low, Worst Dow Performer
NKE is trading near its 52-week low of $38.86 (0.7% above the low) on elevated volume (2.4× avg).
Summary
Nike closed at its lowest level since 2014 on Monday, down about 78% from its November 2021 all-time high of $177.51. The stock is now the worst performer in the Dow Jones Industrial Average, dragging the index down by 9.75 points. This extends a brutal stretch following the company's June guidance for flat earnings and a low- to mid-single-digit sales decline, along with a 17% China sales slump. The new 12-year low signals continued investor capitulation despite the recent CFO transition and tariff-related earnings benefit. Watch for any stabilization or further breakdown as the stock trades just above its 52-week low of $38.86.
Updates
· Dow Jones Newswires — HSBC warns near-term sales show no turnaround; Jefferies sees stabilization in China and performance sports but expects sportswear and Jordan to stay negative through 2027.
At the time of this announcement, NKE was trading at $39.14 on NYSE in the Trade & Services sector, with a market capitalization of approximately $58B. The 52-week trading range was $38.86 to $80.17. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.