Why Nike Stock Plunged 31% in the First Half of 2024

The business is in a "transitional" year, according to management.Shares of athletic apparel company Nike (NKE 1.17%) plunged 30.6% in the first half of 2024, according to data provided by S&P Global Market Intelligence. When taking out just two days of trading, the stock would have been roughly flat for the six-month period. But it reported financial results twice. And the stock took a hit both times, dropping it below the 14.5% return for the S&P 500.Nike's fiscal calendar differs from traditional calenda ...