Nike stock plunges amid lackluster sales forecast

Bob Drbul, Guggenheim Securities senior managing director, joins ‘Squawk Box’ to discuss Nike as the company's stock plunged following their projection of a more significant sales decline next year.

[@TylerShort]

No need to pay for the product. You can raid a Footlocker in some states, obtain the product and avoid prosecution. Will continue to be bearish

[@MoneysNeverFunny1]

Nike made a huge strategic mistake when they leaned heavily into their online focus. They forgot once the pandemic was over, people were going to start getting out the house & shopping in person again. They also cut their relationship with Footlocker, which was a mistake. They're in trouble. Nike will always be Nike, but this was a mistake!🤣

[@nickvin7447]

The legacy products are the only thing keeping them in business guy.

[@junzhang2087]

I am buying

[@cryptomon86]

I bought some at 75. I had already wanted to buy but kept putting it off
Not enough i cant eat a loss to zero

[@cryptomon86]

Sbux all over again

[@AbdulSalam-zt2kz]

Buy. Good solid company.

[@primeminister7885]

I agree

[@Mostly_bad]

You have to innovate. Nike is a retro brand now.

[@user-ht1gw9tr5w]

Why I love Nike shoes I would love to see more stores

[@ilovmusic22]

Over sold buying Monday 👍👍👍

[@Racoon_UK]

Stock will hit the ground 😅

[@santyv9466]

ON and Hooka eating some of it.

[@Idealgentlemen_]

Nike is the Apple of the apparel industry, if you think they’re going anywhere you’re fooling yourself……my price target for Nike is around 143, especially considering their balance sheet and if the fed decides to cut rates at any point

[@atmavictu2995]

Delusional, they trade at 24 PE with declining sales and eps. This stock is worth 60 dollars being very generous.

[@Idealgentlemen_]

@@atmavictu2995 ok 👍🏾

[@Sabundy]

Neither Nike nor Apple are invulnerable. There is no such thing. There is no such thing as too big to fail. It can happen to any company if badly led, bad decisions are made, and your competitors disrupt the market. Go read up about Kodak and Nokia to name just two. Both were giants in their fields that utterly dominated. Yet where are both today?

[@Idealgentlemen_]

@@Sabundy ok 👍🏾

[@mdee8784]

Terrible quality and boring offerings equals brand death eventually

[@prolific1518]

I was told the economy is doing great 😃

[@glent7853]

Deckers is rocking. Nike is a tired brand

[@prolific1518]

@@glent7853 deckers lol

[@yachtandwealthadvisorsllc4874]

Joe is the man
Go woke - go broke - almost as good as negative indicator as Cramer

[@atmavictu2995]

Quality is mediocre to real bad, prices have gone up like there is no tomorrow. Competition have better products and lower prices.

[@shintapeterson10]

You made extreme limited shoes..

[@jjreddog571]

As far as the stock goes, I couldn`t care less....go woke, Go Broke....time to go figure this one out....

[@atmavictu2995]

Stock is at 80 dollars in a 25 PE with declining financial metrics and this fool has a 115 price target end of fiscal...Yeah sales down 10% and this stock should trade at a 40 PE...fools

[@Andrew-zz8yh]

Someone once said Go Woke go ???

[@primeminister7885]

As long as there is sports there will be Nike

[@ivannguyen7774]

go woke go broke. Lol

[@shintapeterson10]

GREED

[@Walt33-sw5kx]

Nike quality sucks