It’s one of the most recognisable brands in the world, but Nike is facing a major crisis after its share price plummeted to a 12-year low.
Earlier this month Nike reported its financial results for the third quarter, and it did not make for enjoyable reading for the sportswear giant.
Nike stock has declined massively, with over $187 billion in market capitalisation wiped since its 2021 peak, falling from roughly $264 billion to approximately $76 billion.
Trading at $45.70, the stock has tanked from the peak of five years ago when shares were worth $165.
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Anxiety is spreading at Nike as executives tell…
