Popular shoe brand’s stock erased $200 billion in market value - thestreet.com
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- Nike stock erased $200 billion in market value in what Yahoo Finance described as a relentless plunge, hitting a 12-year low
- JPMorgan downgraded Nike shares as the stock cratered, according to qz.com's coverage of the selloff
Why it matters: Nike's $200 billion wipeout at a 12-year low — combined with JPMorgan's downgrade — shows institutional investors are actively abandoning the stock, raising the pressure on management to engineer a turnaround at one of the world's most recognized brands.
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