Stocks

Nike Stock Plunges 80% as China Woes and Weak Demand Weigh

Guavy AI Editorial Team Published September 23, 2026

Instruments

NKE

Nike stock has been experiencing a major multi-year reset, not just a short-term correction. As of September 23, 2026, NKE is around $36, near its lowest level in roughly 12 years.

According to Reuters, Nike has lost about 80% of its market value over five years. The biggest issue facing the company is that the market has lost confidence in the speed of its turnaround.

Nike's Greater China revenue fell 17% year-over-year in fiscal Q4 2026, while Nike Digital sales there dropped 25%. The company also faces stronger competition, weaker consumer demand, pressure on margins, and a product lineup that investors are questioning.

CEO Elliott Hill acknowledged after the June results that the turnaround still wasn't producing the desired results. The company is trying to rebuild wholesale relationships and restore product innovation.

Nike Stock Plunges 80% as China Woes and Weak Demand Weigh

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