Sneaker giant Nike (NKE) is set to release its fiscal Q3 2024 earnings after the closing bell tomorrow. With a YTD loss of almost 8%, NKE is among the worst-performing Dow Jones Industrial Average ($DOWI) components this year. Things were no different last year, as Nike stock fell 7.2% in 2023, even as the broader markets delivered strong double-digit returns.
Nike stock hit an all-time closing high of over $173 in November 2021, and is currently trading around 42% below those highs, and has closed in the red every year since then - even as the S&P 500 Index ($SPX) soared to new record highs.
