Shares of athletic-gear giant Nike Inc.

on Monday were down for the eighth straight trading day and on pace for their longest losing streak in nearly 25 years. The stock was down 1.9% on Monday, and down around 6% over the past eight days. The downtrend would put the stock on its longest losing streak since Dec. 4, 1998, when it fell for eight consecutive days. Nike has faced concerns about China’s wobbling economy and weaker demand overall, as consumer budgets stretched by inflation force shoppers to prioritize basics like groceries over things like sneakers and athletic apparel. Shares of Nike are down 13.3% year-to-date.

Source link

Share with your friends!

Products You May Like

Leave a comment

Your email address will not be published. Required fields are marked *

Get the latest stocks updates
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.