Investors might have warmed up to stocks again this year, but one blue chip stock which was left out in the cold was (NYSE: NKE). The athletic footwear and apparel maker's stock price declined about 7% year to date as the S 500 advanced nearly 20%. Let's see why Nike underperformed the market -- and if investors should buy, sell, or hold its stock.

Nike's revenue declined 4% in fiscal 2020 (which ended in May 2020) as the pandemic spread and shut down brick-and-mortar stores. But in fiscal 2021, its revenue rose 19% as those headwinds dissipated and it continued to expand Nike Direct (its e-commerce channel and first-party stores) to reduce its dependence on wholesale retailers.

Image source: Nike.

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Source Fool.com