from24/7 Wall St.
3 weeks agoNike's Hard Crash Won't End
Nike Inc. ( NASDAQ: NKE) posted dismal quarterly earnings, due largely to its results in China. However, that is not at the heart of the problem. Adidas and Puma are desperately trying to get market share as each has its own deep problems. At the next tier down are Lululemon, Under Armour, ASICS, New Balance, Skechers, and Hoka, also elbowing for market share. Nike's valuation is based as much on the crowded market as any single quarterly financials.
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