Nike - it’s getting to the point where the CEO is hanging on by a thread regardless of how much everyone likes him

In 2026, the stock is down 43 %. Since Elliott Hill took the job as CEO on October 14, 2024, the stock is down 56 %.

If you bought Nike stock in 2014 and reinvested all dividends, you would have lost money today. Add CPI inflation to that equation and you’re even worse off.

The only reason Hill hasn’t already been sacked is because the board recognizes that his predecessor left the company on a path that takes a long time to recover from. It seems like Hill is making the right decisions. Rebuilding wholesale relationships, putting sport and performance back at the center, rebuilding Nike’s product/innovation pipeline, making running a major priority, cleaning up excess inventory rather than continually promoting old product, putting experienced Nike people into key leadership roles.

All the previous CEO talked about was direct to consumer and lifestyle/fashion. It worked for a few years under Covid but then failed miserably.

Is Hill the right guy for the job? Maybe. But shareholders want to see a turnaround that’s working- not one that’s mixed. Running is doing well. North America is doing well. Football is starting to improve. Everything else is terrible. Converse and China are epically failing.

I don’t think Hill can afford to disappoint when the company releases its earnings report in a few weeks, on October 1. If Nike stock crashes another 20 % on earnings similarly to LULU, DKS, ONON, Hill is toast. He’s finished. And he knows it. So he’s going to pump the stock somehow. They won’t be conservative with guidance. They’ll be optimistic. They’ll say the turnaround will be faster than expected. Something like that.

Nike stock will be back over $40 on October 2.