Why Nike Inc. Stock Fell 10.6% in August
Shares of Nike Inc. (NYSE: NKE) declined 10.6% in August, according to data from S&P Global Market Intelligence, following painful quarterly reports from two of the country's largest athletic-footwear retailers.
Nike stock fell nearly 5% on Aug. 18 alone -- the first trading session after Foot Locker (NYSE: FL) announced painful second-quarter results. Foot Locker stock, for its part, plummeted more than 20% that day. Then Nike only extended its decline on Aug. 29, when The Finish Line (NASDAQ: FINL) announced its own underwhelming preliminary fiscal second-quarter results.
IMAGE SOURCE: NIKE.
Source: Fool.com
Nike Inc. B Stock
€68.82
1.320%
The stock is one of the favorites of our community with 62 Buy predictions and 2 Sell predictions.
With a target price of 110 € there is a hugely positive potential of 59.84% for Nike Inc. B compared to the current price of 68.82 €.
