Nike Stock Craters to 12-Year Low as China Risks Weigh Heavily

Nike's stock has been experiencing a significant decline, reaching its weakest level in nearly 12 years. On August 17th, shares slipped below $40, with an intraday low of $39.41 and closing at around $39.47-$39.49. This move marked a fresh 52-week low.

The stock's fall is part of a larger decline, having dropped approximately 38% in 2026 and nearly 78% from its record high of $179.10 reached in November 2021. The S&P 500 was down around 0.15%, while the Consumer Discretionary sector fell about 0.8%. Nike's decline of over 3% was notably steeper.

No major announcement from Nike triggered the fall, but several existing concerns weighed on the stock. These included weakness in international markets, changes to Nike's China business, and questions surrounding its broader turnaround. The recent update from rival On Holding added another spotlight on growth expectations across the footwear and apparel industry.