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Why Nike Stock Dropped 11% in June
Nike (NYSE: NKE) stock fell 11% in June, according to data provided by S&P Global Market Intelligence. Investors were feeling negative about it as it got closer to earnings, especially since competitor Lululemon Athletica reported disappointing results early in the month. But it's already bouncing back.Nike has gotten into a quagmire as several headwinds converged on it at the same time. It started with some internal decisions that didn't turn out as expected, including curtailing wholesale partnerships in favor of its direct-to-consumer business and devoting resources to its long-term franchises in place of innovating in sport. As these actions dragged on sales, inflation soared, hurting it further, and tariff changes put tremendous pressure on profits. Image source: Nike.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Ausgewählte Hebelprodukte auf Nike
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Quelle: MotleyFool
