Swoosh! Nike Nears Correction - Plunges 9.5% From Post-Earnings Highs

Tyler Durden's picture

"Great" earnings (ex-FX of course) and an "appealing to a broader retail audience" stock split? Recipe for awesomeness, right? Wrong! Nike is now down almost 10% from its post-earnings peak...

NKE running downhill fast...

 

Just Don't It!

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tommylicious's picture

WHO THE FUCK IS BUYING THESE LOSER-ASS SHIT SHOES?  FUCKING DIPSHITS.  

NoPension's picture

Two days ago, the article here was Nike is the hottest growth company in China.

Y F W Me?

stant's picture

No longer air dropping them in with arms to Isis?

Squid Viscous's picture

did they reduce guidance on sales to ISIS?

Make_Mine_A_Double's picture

Sand monkey prefer Puma (Adiddas). Although when your really truckin' to get away from a Russian bunker buster New Balance and Rebok are getting halal pretty quick.

 

The Hab-el-Dur Goat Tracker 2000's are the bomb!

22winmag's picture

More corrections than you can shake a stick at.

 

Is nothing sacred?

Ban KKiller's picture

Their prices are too high. Other choices...

itstippy's picture

American consumers are image-driven morons.  

$150 athletic shoes that they won't wear them on grass because they might get stained.  $40,000 Super Duty pickup trucks that they won't haul a barbeque grill in because they might scratch the bed.  $1,200 shotguns that they won't take duck hunting because they might get wet.  $400 food processors to sit on $3,000 granite counter tops next to the $500 knife sets in the kitchens that they don't cook in.  $200 paint jobs on mountain bikes.

Take a generic piece of clothing, slap a Nike swoosh, Harley Davidson logo, North Face label or Coach tag on it, and it's worth ten times more.  

Take any schmuck off the street and make them a political candidate backed by either the Republican or Democratic party and they've instantly got a loyal following of 48% of the voting population.  Americans are fucking consumer sheep.  

Agstacker's picture

I'd upvote you 2x if I could, but only Diebold can do that...

sun tzu's picture

I pay $30 to 40 for athletic shoes. Anything less will probably fuck up your feet and back. Anything more is overpriced.

ZangotheMagnificent1's picture

Prefer the phrase "sheeple" ... spot on!

motorollin's picture

I live about 5 minutes from Nike World Headquarters. They have no less than 6 conastruction cranes out so they can expand. Share price doesn't seem to be affecting them in the least.

Thirstyknowledge's picture

I like Zero Hedge.  Great place to find out things that other media not reporting.  But it does get a bit tedious to see articles such as this one, on Nike.  I have no interest in the stock, one way or another, but the headline to the article is just a bit too sensational! Enough already.  A stock that is up more than double in past two years, triple in past four years, and now has a 10% correction, warrants a headline that screams of ruination and unspeakable tragedy? Seriously, give me a break.

brooklinite8's picture

I was an avid buyer of pair of nike shoes for about 75 bucks on sale. The same shoes that I bought around 2010 for 75 are not cheaper than 150 now. I am waiting for this cloud to burst for nike. Sadly I have been waiting for this for a long time and the end doesn't look no where for this company. Although I like their soccer jersey's I will be shopping for sneakers either at Adidas or other shoes. Thank you for some good shoes. Time to move on. 

DontFollowMyAdviceImaDummy's picture

I used to only-wear airmaxx nikes... then they went from $90 to $160, which i ate for two years... but the shoes began breaking literally with less than 200-miles-run (verified with my still-in-use nike+ gps watch) last year and I switched to Asics Gels, which right now the second pair is about to hit the 2000-mile-mark even with a few crapy weather runs already and have been more comfortable than the high performance Nikes were.  

I only buy Jordans as gifts now and even those were ony asked for by 10% of the people I give gifts to every year (used to be 50 to 60%); Nike has killed themselves by overcharging for vastly underperforming shoes.  They've lost their core customer base by continually overcharging for inferior products; stupid corporate crapweasels killed their golden goose.