Nike Stock Sinks to 6-Year Low After Tariff Announcements

Core Viewpoint - Nike Inc is facing significant stock pressure due to President Trump's tariff announcement, which imposes high levies on goods manufactured in China and Vietnam [1] Group 1: Stock Performance - Nike's stock has dropped 11.3% to $57.62, marking its lowest level since November 2017 and extending a bear gap post-earnings [2] - The stock is experiencing a year-to-date deficit of 23.5% [2] Group 2: Supply Chain Impact - The company manufactures approximately 50% of its footwear in China and a substantial portion of its apparel in Vietnam, making it vulnerable to the new tariffs of 54% and 46% respectively [1] Group 3: Options Trading Activity - Following the tariff news, options traders have significantly increased activity, with over 72,000 calls and 82,000 puts traded, which is five times the average intraday volume [3] - The most popular contract being traded is the April 55 put, indicating a bearish sentiment among traders [3]