Prediction: Here's What $1,000 Invested in Nike Stock Could Be Worth by 2030
What comes next for this iconic footwear and athletic apparel brand?
Overview
On Sept. 20, Real Madrid superstar Kylian Mbappe taped over the Nike (NYSE: NKE) swoosh on his Superfly cleats during a match against Atlético Madrid. Two days earlier, the French soccer legend had severed his multidecade sponsorship deal with the shoe giant in favor of the Swiss sportswear brand On, which is expanding into the soccer market.
This situation exemplifies the perfect storm of fading relevance and rising competition Nike now faces. These challenges have helped send its stock price down by 76% over the last five years. But what might come next for Nike, and what might a $1,000 investment made today be worth by the end of the decade?
Image source: Getty Images.
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Originally published at www.fool.com.