Nike Stock Plummets to 12-Year Low Amid Market Capitalization Loss
Nike's stock price has been on a downward trend, closing at $38.40, down 0.95% from its previous close of $38.77. This decline marks a significant drop in the company's market capitalization, which has fallen to around $57 billion from its peak near $280 billion, a loss of $220-230 billion.
The stock is currently trading at a 52-week low and has been stuck below this level for some time. The technical picture suggests that Nike is in a multi-year downtrend with no clear floor in sight.
Fiscal 2026 results showed flat revenue of $46.4 billion, down 2% currency-neutral, and net income decreased by 3% to $3.11 billion. The company's strategic pivot towards wholesale partnerships and sports innovation is underway, but it has yet to bear fruit, with gross margin expanding only 20 basis points.