For decades, Nike (NKE) was the gold standard of both performance and culture. It didn’t just sell sneakers. It sold the Just Do It concept, and did so in every corner of the globe.
But now, NKE is confronting one of the most difficult identity crises in its 60-plus year history. The stock has spent the last several years in a structural decline, losing more than half its value since its 2021 peak.
