Nike shares plunged by 20% on Friday, marking the worst single-day performance since the company's IPO in 1980 and its worst day since 2001. The decline followed a disappointing earnings report and a forecasted 10% drop in quarterly sales, which has raised significant concerns among investors. The sportswear giant's market capitalization fell by $27 billion, and its stock hit pandemic-era lows. In response, Nike announced plans to introduce a new line of $100-and-under sneakers to attract price-conscious shoppers. Analysts are questioning the leadership of CEO John Donahoe and the company's ability to innovate and compete with emerging brands. The company has termed fiscal 2025 as a 'transition year.' Wedbush analyst Tom Nikic noted that Nike's shares are headed for a stay in the proverbial penalty box until new product innovations manifest and management regains investor trust. The stock's dramatic fall has also dragged down the Dow and S&P 500 indices.
What do you think of Nike $NKE? https://t.co/Uu0D0nIf8e
🇺🇸 Nike plans $100-and-less shoe line after shares plummet following sales slump prediction https://t.co/vZutCIRK6F
Nike's recent stock plummet underscores deeper economic concerns and challenges facing global retail giants amidst shifting consumer behaviors and management strategies.
$NKE Nike price target lowered to $112 from $120 at Bernstein, keeps an Outperform rating on the shares. The company's "negative-growth" forecast for FY25 after a no-growth year in FY24 is a "much harder reset" than the market expected.
So @Nike drops 20% …and they say crypto is volatile 🖕🤣 $Zack @MrZackMorris https://t.co/A15eQa6GT9
🇺🇸 Nike CEO John Donahoe comes under fire as stock sees worst day on record https://t.co/bo0VmxQwJU
🇺🇸 Nike shares tumble 20% as sales warning rattles retailers https://t.co/ETKXARQvgz
🇺🇸 Nike valuation plummets by $20bn https://t.co/CZXkrykvXy
Nike's stock fell 20% yesterday in the company's worst financial day since 2001. Maybe they shouldn't have given up their previous deals with Lionel Messi and Steph Curry and gone woke with Colin Kaepernick. https://t.co/QngTEiaTXg
🇺🇸 Nike has been losing both customers and investors over the past year. Can it deliver a good comeback story? https://t.co/mVrrpdnPQC
🇺🇸 Analysts question Nike’s leadership as forecast sends stock toward record drop https://t.co/LbnzgZhVuk
If current losses hold, #Nike's shares were set for their worst day in more than two decades and wipe out nearly $27 billion in market value
If current losses hold, Nike's shares were set for their worst day in more than two decades and wipe out nearly $27 billion in market value https://t.co/kyjfIUBmee
Investors are abandoning ship as Nike's strategies — both in innovation and distribution — have struggled to win budget-conscious consumers or beat back growing competition. Some analysts have been questioning whether the right leadership is in place. https://t.co/1pP9pQtSFS https://t.co/HPq968jQTP
$NKE Nike shares are headed for a stay in the proverbial penalty box until new product innovations actually start to manifest themselves and management regains investor trust,” Wedbush analyst Tom Nikic said in a note.
LISTEN NOW: Shares of Nike plummeted after reporting results, as the sneaker giant warns of a major sales slowdown. Listen to the @CNBCFastMoney podcast here: https://t.co/2KdGymzp3L https://t.co/BzzO8OcF33
Nike’s stock has plunged as forecasts for a surprise drop in annual sales have amplified investor concerns about the pace of the sportswear giant’s efforts to stem market share losses to upstart brands https://t.co/MYY5A0TUfV https://t.co/XHWplckH5I
Nike stock sees record drop as analysts question leadership after poor forecast https://t.co/A2UAfYxwvF
Swoosh swivel! $NKE tumbling one day after its big earnings miss. @grassosteve @karenfinerman on what went wrong and led to the company's worst day ever. https://t.co/AurUw0ZEQ7
#BREAKING: @Nike $NKE shares plunges by -20% 👟👟 https://t.co/ZGj7kr3lpJ
🇺🇸 Nike’s slow recovery is testing investors’ patience https://t.co/mVrrpdnPQC
Nike’s weak revenue performance and latest guidance cut is scaring away bullish analysts who fear a turnaround could be at least a year away https://t.co/n64FPQyeoU
Nike shares tumbled to their worst day on record, dragging the Dow and S&P 500 to losses on Friday https://t.co/XW9Mi17FY0 https://t.co/XW9Mi17FY0
Nike, $NKE, closed down nearly 20%, it’s worst since 1980: https://t.co/NRkfTNhYiH
Nike shares sank after the sneaker company’s full-year outlook missed expectations, stoking investor concerns about waning demand and competition from upstarts. https://t.co/Z1vuk6RAmT
BREAKING: Nike share price plunges by 20%
BREAKING 🚨: Nike $NKE suffers largest loss since October 9, 1990 https://t.co/Y3iYTyUs9B
Stock market is now closed. Nike suffered their worst day since 2001, with shares down $18.82, and nearly 20%. We explain why here: https://t.co/85Xmh25Npp
Nike plots $100-and-less sneakers to lure price-conscious shoppers https://t.co/PsTlIhDFur https://t.co/vUUYqXDhMT
NIKE SHARES JUST HAD THEIR WORST DAY IN HISTORY TODAY AFTER NIKE JUST REPORTED ITS LATEST EARNINGS $NKE https://t.co/x4GJ1cwHs5
Shares of Nike $NKE tumbled over 20% as the company announced it could be in a "transition year" for fiscal 2025 following revenue declines: https://t.co/VIh0fBniaq How Nike $NKE (-19.94%) Makes Its Money: https://t.co/mv8gvmpaSY #investing #stocks https://t.co/cBXu9QRYN6 https://t.co/5mhnobdm7f
$NKE - Nike Shares Close Down 20% In Worst Drop Since 1980 Debut @business - They can't blame this drop on "The Curb" -Nike's stock originally traded on the American Stock Exchange (AMEX), going public on December 2, 1980. - In 1982, Nike moved its listing to the New York Stock…
UPDATE 🚨 $NKE dropped 20% today, the worst day since thier 1980 debut Just Sell It? https://t.co/lkzshcczY7
$NKE -20% worst drop since 1980 debut
Nike plans $100-and-less shoe line after shares plummet following sales slump prediction https://t.co/vpitJH1ozC https://t.co/Quug5U9ian
Why shares of Nike nosedived Friday: https://t.co/POUwajVVQ7 https://t.co/ZmtfzbiTSK
Nike shares sink as gloomy sales forecast fans growth concerns https://t.co/uVyKvEj9x3
Never seen a day like this in $NKE before -20.6% 🤮 Barron's really nailed this one 🎯🤣 https://t.co/YinaCmRye7
$NKE is back to pandemic lows today. https://t.co/7HdZE7qIne
🚨 Nike $NKE is getting absolutely demolished. Shares are on track for their worst daily performance in history since its IPO in December 1980. Who's buying the dip $NKE? https://t.co/OSSX4gzozu
Nike faces their worst stock collapse in over two decades and could lose $27 billion in market value. Shouldn't be shocking for a company that dropped Steph Curry and Lionel Messi for Colin Kaepernick. https://t.co/QngTEiaTXg
Nike's CEO is under pressure to innovate as market cap falls by $24 billion. https://t.co/vfGPx2xWUz
$NKE Just didn't 🩸🔪 -20.2% https://t.co/u5BUgUAHN0
$NKE Nike cutting prices (no surprise): Nike will roll out new $100-and-under sneakers in countries around the world, its chief financial officer said Thursday, as the sportswear giant tweaks its product lineup in a plan aimed at getting sales back on track. Nike has… https://t.co/czLJrxoe8i
🇺🇸 Nike shares plunge after retailer says quarterly sales will fall 10%, warns on China weakness https://t.co/cxDIhK9YyO
Nike plots US$100-and-less sneakers to lure price-conscious shoppers https://t.co/oRu6hOzga2