Should You Avoid Nike Stock, Even at a 12-Year Low?
The stock is trading down almost 40% year to date.
Overview
Investors have been waiting for Nike (NYSE: NKE) stock to hit bottom and start to move up for a long time, but it just keeps going lower.
Since its peak in November 2021, when it traded near $180 per share, Nike stock has plummeted by about 78% to its current price of $38.50 per share. The stock price has not been this low in about 12 years.
Details
This year, the stock price is down about 40% year-to-date, as hopes of a turnaround under new CEO Elliott Hill have been derailed by weak demand and sputtering revenue in a challenging market marked by high inflation, tariffs, and intense competition in the wholesale market that Nike is now trying to reenter.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.