Reported 2 days ago
Nike Inc. saw its shares fall as much as 9.3%, dropping its market value below $100 billion for the first time since the Covid-19 pandemic. The company's earnings report indicated that revenue and profitability would continue to face challenges, resulting in a more than 60% decline in stock price from its November 2021 peak. Despite these setbacks, some analysts maintain confidence in new CEO Elliott Hill's ability to lead a turnaround.
Source: YAHOO