NKE - Nike Shares Plunged on Disappointing Guidance. Is This a Slam Dunk Opportunity to Buy the Stock?
2024-07-03 04:00:00 ET
Shares of Nike (NYSE: NKE) plunged after the athletic apparel and footwear company disappointed investors by forecasting a surprise sales decline for fiscal 2025. The stock is now down about 30% year to date.
These recent losses have extended Nike's decline since the stock hit its peak in 2021, and shares are down about 10% over the past five years.
Let's take a look at Nike's most recent quarterly results and the issues it faces to determine whether this is a buying opportunity.
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Nike Shares Plunged on Disappointing Guidance. Is This a Slam Dunk Opportunity to Buy the Stock?