Nike Stock Plunges to 12-Year Low as Wall Street Loses Faith in Turnaround
Nike shares closed at $40.18 on Monday, a price not seen since 2014 and a drop of roughly 78% from its November 2021 record close of $177.51, according to The Wall Street Journal. The decline signals growing bearishness among Wall Street analysts about the athletic giant's turnaround efforts. The stock's slide highlights mounting pressure on the company as it navigates shifting consumer demand and market challenges.
Key facts
- Nike stock closed at $40.18 on Monday.
- This is the lowest price since 2014, a 12-year low.
- The price represents a roughly 78% decline from the record close of $177.51 in November 2021.
- Wall Street analysts are turning bearish on Nike's turnaround.
- The information was reported by The Wall Street Journal.
Entities
Institutions
- Nike
- The Wall Street Journal
Sources
- Quartz —