It’s going to take a while to get $NKE back to this $76 as a floor of a defined channel but it will act as a magnet in the future. Not today. Bottom line, Nike went from feeling joy in its athletes to trying to make political statements. Get back to highlighting their athletes daily on social media with great feats of athletics. Joy in performance. The target buyers don’t want to feel like they are oppressed or are victims. Buyers want VICTORY. Nike was the goddess of Victory to the Greeks. Capture this feeling again and today will be more of a bottom and the beginning of a Corporate Redemption Story. In 2024, the writing was on the wall that it would get worse and break that channel. LeBron having fun in Philly would go a long way. Feeling oppressed (he’s a Billionaire) is not what Nike needs.
I’m guessing only Phil Knight has continuously owned shares in this entire period going back to the Reagan Administration but it’s one heck of a chart. During this time $NKE has gone from Hunter to The Hunted. The odd thing for me is that I can’t think of NBA players where the logo is associated with joy or excellence. Nike is a great brand in other sports but Basketball has become almost worthless (metaphorically) to influence kids.
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