Nike Stock Plummets 80% from Peak, Triggers Stage 4 Breakdown Warning

Nike Inc. (NYSE:NKE) has seen its stock price plummet nearly 80% from its peak in November 2021, wiping out over $200 billion in market value.

This decline has led to warnings of a 'Stage 4' breakdown, where a stock's chart indicates it may fall by as much as 72% and take five years to recover.

Nike's woes are rooted in fundamental erosion, including weakness in its direct-to-consumer business and a sharp decline in sales in Greater China.

The company's 'Sport Offense' turnaround effort has hit a critical milestone with the appointment of new CFO David Denton, but the scoreboard still shows a heavy deficit.