Nike Stock Tanks Almost 20% To 4-Year Low: Why The Sneaker Giant's Struggling

ToplineShares of Nike nosedived Friday, setting multiple dubious milestones as the sneaker and athletic wear company faces investor dissatisfaction.A Nike store in Shanghai.NurPhoto via Getty Images Key FactsNike’s stock was down 19.2% by 11 a.m. EDT, on pace for its steepest single-day drop since 2001 and the second-worst day in its 44-year history as a publicly traded company. The plummet sent Nike’s share price to its lowest price since March 2020; other than that month, when the global stock market bri ...