Nike Stock Tumbles on Weakness in Key Markets

Nike's stock has been under pressure as analysts have broadly cut their views on the company. They are warning that weakness in core Sportswear, the Jordan brand, and the key China market could last longer than previously thought.

The analysts highlighted limited visibility on when demand will recover, which is weighing on sentiment and driving the share price lower. After turning more cautious, they rolled back their price targets, reflecting expectations for slower growth and a more challenging near-term environment.

Nike has responded to the situation by reducing the number of Jordan retro launches and cleaning up its digital channel in China to curb discounting. These moves are aimed at protecting the brand even if they hurt sales in the short run.