Nike Stock Hasn't Been This Cheap Since 2012. Here's What It Needs for a Turnaround.
If you invested $1,000 in shares of athletic apparel titan Nike (NYSE: NKE) one year ago, I'm sorry for your losses. The stock is down about 34% during the last 12 months, leaving just $660 in value for anyone who invested a grand.
It gets worse: Nike stock is now down nearly 60% from all-time highs reached in 2021. A 60% drawdown isn't necessarily rare on the stock market, but it is rare for Nike. Since going public in 1980, it's only dropped 60% or more two other times. And it hadn't happened during the last 20 years until now.
Source Fool.com