Nike Stock Loses $200 Billion in Market Value Amid Declining Sales and Strategic Shifts
Nike's stock has fallen nearly 78% from its November 2021 peak, erasing approximately $200 billion in market value. The decline marks the worst drawdown in Nike’s history as a public company, with shares hitting a near-12-year low at $39.09 on August 17, 2026. The downturn is attributed to struggles within its direct-to-consumer business and declining sales across key markets like Greater China, which has seen eight consecutive quarters of revenue declines. Nike plans to cut ties with over 1,000 third-party online sellers in China by January 2027, consolidating sales into official channels. Analysts are divided on the outlook: while most remain optimistic about long-term strategy shifts, JPMorgan analyst Matthew Boss downgraded the stock due to concerns that earnings estimates may be overly bullish. The appointment of new CFO David Denton signals a strategic shift toward financial discipline and a multi-year turnaround effort.
Tickers: $NKE
Topics: China market Direct business model Nike stock decline