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Nike’s Stock Slide and Political Fallout | US News
Nike’s stock just took a brutal hit, plummeting nearly 80% since its 2021 peak — wiping out $200 billion in market value, the biggest drop in its history as a public company. Blamed on faltering direct-to-consumer sales — down 7% last quarter and online numbers dipping 12% — the brand is struggling to recapture momentum. Senator Ted Cruz seized the moment, reigniting old criticisms about Nike’s progressive marketing, especially referencing the scrapped Betsy Ross shoe and Colin Kaepernick controversy, accusing the company of “America-hate” and losing loyal conservative customers. As Nike…
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