Nike (NKE) stock slid about 1% on Wednesday, briefly trading at $40, its lowest level in about 12 years. The fall came despite an earnings beat, because most of the profit came from a one-time tariff refund.
That refund flattered the headline number and did nothing to fix Nike’s shrinking sales. Wall Street responded by trimming price targets, and the charts now point to more downside.
Why the Earnings Beat Triggered Target Cuts
Here is the earnings loophole the title promised. Nike reported a profit of $0.20 per share and beat the $0.13 that Wall Street expected. But most of that profit did not come from selling shoes.
$NKE Q4 2026 earnings: A 407% Earnings Jump That Isn’t Real*** Updated after the…
