NKE, NIO, MCD Stocks Plummet to Fresh Lows Amid Restructuring Costs and Weak Consumer Spending

Nike, Nio, and McDonald's shares plummeted to their respective 52-week lows on Thursday, amid cautious investors weighing challenges such as restructuring costs and weak consumer spending.

Nike's stock fell to a 12-year low of $38.17, while Nio's shares dropped to a yearly low of $4.30 ahead of its September 1 earnings report. McDonald's stock touched over a two-year low of $259.85 as lower-income customers reduced restaurant visits amid persistent inflation.

Nike faces a long turnaround, with Truist downgrading the company to 'Hold' from 'Buy', citing that it wants more proof that Nike's turnaround is working and new products can boost growth before making a stronger call on the stock. Nio continues to deliver vehicles at solid levels but widespread discounting across China's auto market makes profit harder to achieve.

McDonald's confronts a value challenge, with lower-income customers reducing restaurant visits amid persistent inflation. Analysts see Q2 revenue of ¥33.28 billion ($4.95 billion), according to Fiscal.ai data. Retail sentiment around the stock remained in 'extremely bullish' territory after Argus reduced its price target on MCD to $310 from $320 while maintaining a 'Buy' rating.