NKE - Nike's Stock Crashes. Just Do It and Buy the Dip?
2024-07-02 05:20:00 ET
Nike 's (NYSE: NKE) stock sank 20% to a four-year low on June 28 after the company posted its latest earnings report. For the fourth quarter of fiscal 2024, which ended on May 31, the footwear and athletic apparel maker's revenue dipped 2% year over year (and stayed flat in currency neutral terms) to $12.6 billion and missed analysts' expectations by $250 million. Its diluted EPS rose 50% to $0.99 and cleared the consensus forecast by $0.15 per share.
Did the market overreact to that top-line miss? Let's review Nike's recent challenges, its future expectations, and its valuation to see if investors should buy its post-earnings dip.
Image source: Nike.
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Nike's Stock Crashes. Just Do It and Buy the Dip?