Aug. 20 at 7:54 PM
$BZUN -
JUST BLEW IT: Nike has erased nearly
$200 billion in market value as the iconic American brand’s stock sinks to a 12-year low.
The Swoosh-emblazoned brand has been on a yearslong slide, with shares plunging nearly 80% from Nike’s 2021 all-time high of
$177.51.
The staggering decline is fueling fresh criticism of the company and its past controversies, including Nike’s 2019 decision to pull a planned Betsy Ross flag sneaker after Colin Kaepernick raised concerns over the design.
Sen. Ted Cruz is now taking aim at the brand, pointing back to his own Nike boycott and declaring: “#GoWokeGoBroke.”
https://www.foxnews.com/politics/ted-cruz-takes-victory-lap-iconic-american-brands-stock-hits-12-year-low
