Down 81% From Its All-Time High, Is Nike Stock a Generational Buying Opportunity for Long-Term Investors?
The sneaker and sporting apparel company's dividend yield is at a record level, too.
Overview
Nike's (NYSE: NKE) stock struggles over the last half a decade have been striking. While the company was once one of the thriving giants of the consumer goods sector, failed growth strategies have turned it into one of the market's most high-profile disappointments.
Last month, Nike was removed from the S&P 100 index because its market capitalization had fallen below the level that qualified it for inclusion. For reference, the company had been a part of that index for 18 years. The company's share price is now down 81% from its late 2021 high, and its market capitalization has fallen from a peak of roughly $264 billion to roughly $51 billion. Does this massive pullback present a generational buying opportunity?
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Originally published at www.fool.com.