Nike Stock Hits 12-Year Low as JPMorgan Downgrades
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- Nike stock hit a 12-year low after JPMorgan downgraded the shares, per qz.com's headline.
- Benzinga characterizes Nike's decline as a 'multi-year unwind,' why Yahoo Finance describes the plunge as 'relentless.'
Why it matters: Nike shares touching a 12-year low on a JPMorgan downgrade signals that a major bank has lost patience with the timeline for the company's recovery, raising the stakes for Nike's turnaround narrative that multiple outlets are now scrutinizing.
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