Why Is Nike (NKE) Stock Down 20% Today?
Shares of Nike (NYSE:NKE) are plunging lower by 20% after the footwear and apparel giant reported a disappointing fiscal 2024 fourth-quarter earnings amid rising competition. NKE stock is set to have its largest one-day decline since 2001.During the quarter, revenue fell by 2% year-over-year to 12.86 billion. Of the revenue, 5.1 billion.The com ...