https://tokenist.com/nike-is-20-down-ytd-but-can-it-run-again/
Nike's shares have faced a third consecutive session of decline, bringing its year-to-date losses to over 20%. The downturn makes Nike the second worst-performing stock in the Dow Jones Industrial Average for 2023. Several factors contribute to this trend, including broader market volatility, margin pressures, and challenges in the Chinese market, where Nike does about a third of its business. Despite the decline, the outlook isn't entirely grim.
The company forecasts mid-single-digit revenue growth for fiscal year 2024, and analysts remain cautiously optimistic. Wells Fargo maintains an 'Overweight' rating on the stock, although it has lowered its price target. With the Jordan brand viewed as a growth catalyst and current valuations suggesting potential upside, Nike still presents opportunities for a rebound.
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