Nike, PEP, FRMI Stocks Plummet Amid Wall Street Concerns

Nike, PepsiCo and Fermi stocks plummeted to annual lows last week amidst growing Wall Street concerns and macroeconomic headwinds.

NKE stock fell by 0.67% at close on Friday after Bank of America downgraded the stock from 'Neutral' to 'Underperform', citing downside risk to earnings estimates and valuation risks. The firm cut its FY27 and FY28 earnings per share estimates by 11% and 12%, respectively.

PEP stock slumped to a 52-week low during regular trading on Friday before recovering to close up 0.37%. The beverage and snacks company has faced pressure in 2026 due to weak demand, rising input costs, including higher prices for commodities, packaging, transportation, and other operating expenses.

FRMI stock lost 0.66% at close on Friday as its pre-revenue status, massive cash burn, and ongoing dispute with former CEO Toby Neugebauer have triggered selloffs. The company has struggled with its pre-revenue status and significant cash burn in recent quarters.