Wells Fargo downgrades Nike as shares fall 30% this year
Updated
Updated · CNBC · May 8
Wells Fargo downgrades Nike as shares fall 30% this year
3 articles · Updated · CNBC · May 8
Nike is now the Dow's second-worst performer, while CNBC's Jim Cramer said the retailer's turnaround may take longer than investors had hoped.
The bank cited a tougher retail backdrop, with investors favouring AI-linked stocks over traditional consumer names despite signs of improving company fundamentals.
The Investing Club said it had already cut its own view on Nike after the latest quarter, reflecting broader weakness in housing-related and lower-end consumer spending.
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