Nike stock has been falling dramatically the last few years, from what I understand mostly due to competition from On and HOKA, whilst it seems pulling out of retail chains such as footlocker cost them in revenues. It's P/E ratio is lower than its 10 year average at 21.6, which begs the question, can Nike continue to grow in the future?
It has a strong moat. although they are losing market share in running shoes, they still have a large market that they dominate in Basketball, Football and other sports. It's brand I'd argue also plays a big part in it staying relevant, it still seems to me that Nike is synonymous with sportswear.
If anyone has any downsides they see in Nike, please share here!
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