Stock Market Today, Aug. 26: Nike Stock Hits 10-Year Low on Analyst Downgrade Following Retail Footwear Concerns
NIKE (NYSE:NKE), a global athletic footwear and apparel leader, closed at $38.59, down 2.25%. Analyst downgrades and negative retail footwear headlines pressured the stock, while investors are watching the next earnings cycle and tariff-related margin trends.Trading volume reache
On August 26, Nike's stock plummeted to its lowest point in a decade, closing at $38.59, a 2.25% decrease. Analysts attributed the decline to downgrades and negative headlines surrounding retail footwear. Investors are closely monitoring the upcoming earnings cycle and tariff-related margin trends. The trading volume surged to 33.3 million shares, surpassing the three-month average of 24.6 million shares by approximately 35%.
Meanwhile, the S&P 500 and Nasdaq Composite both experienced slight declines, closing at 7,676 and 26,130, respectively, down 0.02% and 0.08%. In comparison, global athletic footwear, apparel, equipment, and accessories manufacturers and retailers fared differently. Adidas dropped by 1.47% to $87.84, while Deckers Outdoor rose by 0.82% to $89.47, despite mixed retailer demand signals and brand outlooks.
The news from the athletic shoe market shocked investors, as Dick's Sporting Goods slashed its guidance due to weak demand, causing its stock to plummet by 30%. This triggered Truist Financial analyst Joseph Civello to downgrade his rating on Nike from "buy" to "hold."
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