Why Nike Stock Tumbled Today
Shares of Nike (NYSE: NKE) were heading lower today after the sportswear giant beat estimates in its fiscal second-quarter earnings report, but offered disappointing guidance, saying that revenue would decline in the third quarter after growing modestly in the first half of the fiscal year.
Nike is in the midst of a turnaround, and the guidance seemed to indicate that that will take longer than investors had hoped.
As a result, the stock was down 9.1% as of 11:00 a.m. ET.
Source Fool.com
Nike Inc. B Stock
€36.00
-2.710%
Our community is currently high on Nike Inc. B with 71 Buy predictions and 6 Sell predictions.
With a target price of 64 € there is a hugely positive potential of 77.8% for Nike Inc. B compared to the current price of 36.0 €.
