Nike Stock Suffers Historic 15% Crash Hours After Jim Cramer's Bullish Call

Source: [https://beincrypto.com/nike-stock-crash-cramer-curse-earnings/](https://beincrypto.com/nike-stock-crash-cramer-curse-earnings/)

NKE dropped 15.5% on April 1, its second-largest single-day loss in 25 years, pushing the stock to its lowest price since October 2014 near $44.63. The kicker: minutes before the crash, Cramer posted on X that things looked "so far so good" after Q3 results dropped. Reddit and social media immediately invoked the Cramer Curse, flooding his replies with charts of the plunge.

The actual reason for the sell-off was weak forward guidance despite a headline earnings beat Nike's Direct segment fell 7%, Digital dropped 9%, and revenue declined 3% year-over-year. CNBC's own Charitable Trust, which Cramer manages, has since downgraded the stock. Nike's market cap is now below $70 billion.

Next earnings covering Q4 are expected in late June.