Nike Faces Market Challenges

In a surprising turn of events, Nike Inc., the global leader in athletic apparel and footwear, saw its market capitalization fall below the $100 billion mark. This significant drop came as the company's stock price slipped by 9% on Friday, reflecting investor concerns over its latest financial performance.

Third-Quarter Earnings Overview

Despite a challenging quarter, Nike managed to surpass analysts' expectations with its third-quarter earnings for Fiscal 2025. However, the company reported a decline in revenue, sparking mixed reactions among investors and market watchers.

Future Outlook

Looking ahead, Nike's forecast appears less optimistic, with anticipated sales for the fourth quarter expected to decline at the lower end of the mid-teens range. This outlook has further fueled investor apprehension, contributing to the stock's downturn.

By 9:43 am ET, Nike's shares had decreased to $65.39, resulting in a market capitalization of $96.72 billion. This development marks a pivotal moment for the company as it navigates through a period of financial uncertainty and market volatility.