Shoe wars: Here's why Nike is down and Adidas is up in 2024

Two of the most recognizable shoemaking giants in the world – the German athletic apparel and footwear corporation Adidas AG (ETR: ADS) and America’s Nike (NYSE: NKE) – have taken a radically different stock market trajectory in 2024.Indeed, while the European company has done little other than rise since January 2 and is slowly pushing to reclaim 2021 highs after remaining in a deep ravine through much of 2022 and 2023, Nike is trading near the lows not seen since the early days of the Covid-19 pandemic.Th ...