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Benzinga
Benzinga
Business
Stjepan Kalinic

The Slow-Motion Memecoin: Why Nike’s Multi-Year Unwind Is Taking So Long to Fix

On NIke NKE Elliott Hill Nike Inc NYSE JPMorgan
Beaverton,,Oregon,,Usa,-,Feb,21,,2020:,Nike,World,Headquarters

Nike Inc.’s (NYSE:NKE) stock-market round trip has begun to resemble a memecoin crash in slow motion. It had a pandemic-era surge, a peak near $180, and then a grinding collapse below $40 as investors discovered the company’s growth story had been flattered by a strategy harder to unwind than to sell.

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