Nike's stock price has dropped to its lowest level since September 2014, with a 78% decline from its peak market capitalization.

August 18th. According to BIT (bit.com) market data, Nike (NIKE) stock price fell more than 4% intraday today, breaking below $40, dropping to the lowest level since September 2014. It has evaporated 78% from the 2021 all-time high, and its market value has shrunk by over $200 billion.

The main reason for the plunge is that the former CEO's excessive shift to direct sales channels has led to a loss of wholesale shelf space, product innovation stagnation, and market share being taken by competitors such as Hoka, On, Anta, Li-Ning. At the same time, the Chinese market has seen a significant decline for several consecutive quarters, causing investors to lose confidence in Nike's ability to recover and grow.