Nike (NKE) shares fell for 10 consecutive days. The stock recorded a cumulative loss of approximately 15%. This decline erased roughly $15 billion from the company's market capitalization.
Restructuring efforts and performance concerns in China drove the sell-off. Trefis analysis questions whether the current price represents a buying opportunity or a potential trap.
Barclays upgraded the stock to Overweight earlier this week despite the downward trend. Analysts at Barclays cited operational progress and disciplined management for their positive outlook.