Nike Share Price Decline Doesn't Deter Retail Investors

Retail investors are sticking to their Nike (NKE) investments ahead of the sportswear firm's Q1 earnings on October 1, despite a year-to-date decline of 41% in its share price. The downturn is attributed to competition and weak demand in key market China.

A tool called Crowd Wisdom from TipRanks allows for the tracking of investor sentiment through smart portfolios. According to this tool, the number of investors holding NKE stock has decreased only marginally over the last week.

Over the last 30 days, there was a 0.9% increase in the number of portfolios holding NKE stock, while over the last 7 days, there was a 0.2% decrease. Investor sentiment is described as Neutral, below the sector average.

Wall Street analysts expect NKE to report earnings per share for Q1 of $0.44, down from $0.49 in the same period last year. Revenues are predicted to come in at $11.33 billion, down from $11.72 billion this time last year.