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Wall Street loses patience with Nike as turnaround drags, China weakness deepens
Nike warned that its turnaround is taking longer than it expected, leading three Wall Street banks to downgrade the stock as investors lose patience.
Raccontata da
cnbc.com
Timeline cronologica
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Nike shares fall 9% on weak outlook, expected 20% sales decline in China
Nike has shown some gains in North America, its largest market, amid its turnaround, but the strength was offset by weakness in China.
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Nike's disappointing guidance signals its turnaround is farther from finish line than we hoped
It's hard for the market to have faith in Nike when its guidance continues to fall short of expectations.
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Wall Street loses patience with Nike as turnaround drags, China weakness deepens
Nike warned that its turnaround is taking longer than it expected, leading three Wall Street banks to downgrade the stock as investors lose patience.
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Nike is the most oversold stock on Wall Street after a wild week of trading
Nike issued Tuesday a weak sales forecast, sparking a sell-off of its shares.