Down Nearly 80%, Nike Just Won a University-Sized Catalyst From Adidas

Nike (NKE) stock has been on a downward spiral since November 2021, with shares down almost 80% since then. Nike is a household name brand, and whatever its reputation may be, this prolonged downturn is rather out of the ordinary.

Its biggest competitor, Adidas (ADDYY), has also declined over the same period. However, it's fall has been nowhere near as bad as Nike's decline.