How far we’ve come. After trading above $100 a share for much of 2012 so far, Nike stock dropped off a cliff in after-hours trading yesterday and opened the market today at $87.84 (see the big white gap and red island on the right side up there?). You guys need to buy more shoes, obviously.
At midday, NKE shares are attempting a climb back up to the $90 level with the help of a positive overall market. The steep drop is a little reminiscent of the plunge in the first quarter of 2011, but we’ll see watch to see how the company finishes out the rest of the year.
Head over to the CounterKicks Storify page for a chronological recap of our live Twitter coverage from Nike’s Q4 2012 earnings conference call yesterday.
LOL! Despite the price increase across the board, earnings still took a hit. I knew there was a reason for them letting go Cole Haan, as i am certain that they saw this coming. Now I expect them to release more of the wanted Jordan models, more frequently, then an increased advertising presence, possibly going back to the “in your face” style of the late eighties, early nineties.