Nike Stock Plummets to 12-Year Low After Downgrade by Truist Securities

Nike's stock hit a 12-year low on August 26, 2026, after a downgrade by Truist Securities. The company's shares dropped over 2% during midday trading, with its price falling to $38.66. This decline marks the lowest point for Nike since August 2014 and represents nearly a 40% decrease in value year-to-date in 2026.

The downgrade was influenced by DICK'S Sporting Goods reducing its full-year guidance for 2026, with Nike products accounting for approximately 35%-40% of DICK'S inventory. This news is seen as a negative indicator for Nike's sales prospects.

Nike Inc., the largest athletic footwear and apparel brand globally, operates within the Consumer Cyclical sector and the Manufacturing - Apparel & Accessories industry. The company has a market capitalization of approximately $57.35 billion and generates about two-thirds of its sales from footwear.