Why Nike Stock Got Hammered Today

Shares of athletic apparel company Nike (NKE -10.47%) got hammered on Friday after the company turned in disappointing financial results for its latest quarter. Slowing sales have some worried that the company is losing market share. And that's why Nike stock was down nearly 11% as of 10 a.m. ET.How bad is it for Nike?Nike just reported financial results for its fiscal second quarter of 2024. In Q2 (which ended on Nov. 30), the company generated revenue of $13.4 billion, which was only up 1% year over year. ...