Even though Nike has already lost 62% (!!) of its value, it’s still a stock very much in trouble. I guess making a business out of handing over eiight figure checks to athletes is starting to break down as a business model. The massive right triangle is complete with today’s full-on swoon in post-earnings trading.
Nike steadily tracked higher since Jimmy Carter was President. The long-term trend is broken, and I’d say Nike has many years of losses ahead.
