The air keeps escaping from Nike's (NKE) stock price.
According to Yahoo Finance AlphaSpace, Nike stock is now underperforming the S&P 500 (^GSPC) by the largest margin in 25 years (see the chart below). The stock is down 35% year to date compared to a 13% advance for the S&P 500.
Since Nike CEO Elliott Hill officially took over as CEO on Oct. 14, 2024, the stock has shed about 49%.
The only thing Nike is "just doing" is serving up stretches of weak quarters and outlooks.
In late June, Nike reported fiscal fourth quarter revenue of $11.0 billion, reflecting a 1% decline on a reported basis and a 4% drop on a currency-neutral basis.
#according #finance #alphaspace
According to Yahoo Finance AlphaSpace, Nike stock is now underperforming the S&P 500 (^GSPC) by the largest margin in 25 years (see the chart below). The stock is down 35% year to date compared to a 13% advance for the S&P 500.
Since Nike CEO Elliott Hill officially took over as CEO on Oct. 14, 2024, the stock has shed about 49%.
The only thing Nike is "just doing" is serving up stretches of weak quarters and outlooks.
In late June, Nike reported fiscal fourth quarter revenue of $11.0 billion, reflecting a 1% decline on a reported basis and a 4% drop on a currency-neutral basis.
#according #finance #alphaspace
4 days ago
