Why Nike Inc. Stock Fell 10.6% in August
Shares of Nike Inc. (NYSE: NKE) declined 10.6% in August, according to data from S&P Global Market Intelligence, following painful quarterly reports from two of the country's largest athletic-footwear retailers.
Nike stock fell nearly 5% on Aug. 18 alone -- the first trading session after Foot Locker (NYSE: FL) announced painful second-quarter results. Foot Locker stock, for its part, plummeted more than 20% that day. Then Nike only extended its decline on Aug. 29, when The Finish Line (NASDAQ: FINL) announced its own underwhelming preliminary fiscal second-quarter results.
IMAGE SOURCE: NIKE.
Source: Fool.com
Nike Inc. B Stock
€85.76
-0.150%
The stock is one of the favorites of our community with 46 Buy predictions and 3 Sell predictions.
With a target price of 115 € there is a positive potential of 34.1% for Nike Inc. B compared to the current price of 85.76 €.
