As one of the largest sports apparel and footwear businesses on the face of the planet, (NYSE: NKE) is well-known not only among customers worldwide but within the investment community as well. Regarded as a blue chip stock, Nike is even included in the Dow Jones Industrial Average.

Despite its storied history spanning many decades, shares of this consumer discretionary business haven't been kind to investors. Nike is currently 42% below its peak price, after it tanked 7% in 2023.

Before you go rushing to scoop up this stock, here are three facts you need to know.

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Source Fool.com