What yall think about Nike stock? I honestly feel like this could be a $20 stock soon 💀
I’m genuinely starting to wonder what the bull case even is anymore. This stock has gone from $100+ a few years ago to the $30s, while the broader market has been doing the complete opposite.
And it’s not even just the stock price. Nike’s FY2026 revenue was basically flat, Nike Direct revenue was down 6%, and Converse was down 31%. The turnaround story just seems to keep getting pushed further out 🥀
I know people are gonna say “Nike is Nike” and that the brand is too strong to fail, but at what point does the brand stop being enough? Competition is everywhere, consumer preferences change, and Nike has been struggling to actually translate the brand into growth.
Now Bank of America just cut their price target to $30 because they think the turnaround is taking longer than expected.
Might have to yolo on puts for earnings 💀