Nike stock crashes to lowest price since 2015; Here's why

Nike (NYSE: NKE) stock is down more than 9% in pre-market trading on Wednesday, April 1, hovering around the lowest levels in more than a decade following a mixed earnings report.The athletic apparel company reported fiscal third-quarter earnings per share (EPS) of $0.35  and $11.3 billion in revenue, topping Wall Street expectations of $0.29 cents and $11.23 billion, respectively. While the results alone might appear solid, investor sentiment shifted when CFO Matthew Friend said that fiscal fourth-quarter ...