Nike at a 12-year low

Nike closed at $39.09 on Monday, its lowest close since August 15, 2014, and a fresh 52-week low. The stock is down 78% from its November 5, 2021 peak of $177.51 on a split-adjusted basis. The selling is not confined to one name: over the past five sessions Coach parent TPR lost 22%, On Holding 19% and YETI 18%.

This is price context, and a multi-year low makes no bottom call. Nike still pays a dividend, so total return since 2014 is better than the price line, and the split-adjusted history means the 2014 quotes were roughly double the levels shown. What the chart establishes is that a dozen years of price gains have been given back.