Nike (NKE) Stock Hits 12-Year Low as Company Hires New Chief Commercial Officer
TLDR
- Nike stock closed at $38.59, a 12-year low, and is down 38% in 2026 through August 26
- The stock is 78.55% below its November 2021 peak, trading at levels last seen in August 2014
- Nike hired Jane Ewing, a former Walmart executive, as its new Chief Commercial Officer, starting September 7
- Greater China revenue has declined for eight consecutive quarters
- Wall Street has a Hold rating on NKE with an average price target of $50.05, implying 30% upside
Nike stock closed at $38.59 on Wednesday, hitting a 12-year low and touching an intraday low of $38.17. The stock is down 38% in 2026 through August 26, putting it on pace for its worst calendar year since 1993.
That was the year Michael Jordan first retired.
A Barchart comparison between 1993 and 2026 has been circulating widely. The parallel is striking. In 1993, Nike had already fallen roughly 40% before Jordanโs October retirement announcement. In 2026, NKE was already down about 29% before China headlines hit in April.
The business problems behind both declines are real, too.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
