Shares of athletic-gear giant Nike Inc.
NKE,
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.
