(NYSE: NKE) was often considered a safe blue-chip stock for long-term investors. It's the world's largest footwear company by annual revenue, it has plenty of brand recognition and pricing power, and it's worn by many popular athletes.

But over the past 12 months, Nike's stock fell nearly 20% and trades more than 50% below its all-time high in November 2021. Let's see why the bulls shunned this iconic footwear stock and if it can bounce back over the next year.

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Source Fool.com