Nike’s stock chart has done something the company probably did not have in mind when it created the Jumpman. After another sharp drop in Nike shares, the shape of the stock chart caught the attention of Workweek's business writer Trung Phan, who joked on social media X that “Nike fumbled so bad that its stock chart created the Jumpman formation.”
The reference is to Jumpman, which is the silhouette of Michael Jordan that has become synonymous with Nike’s Jordan Brand. And while the chart comparison is a joke, it comes at a serious time for Nike, which is trying to turn around a business facing weaker sales, continued problems in China and pressure on some of its biggest brands.
