Is Nike Stock Undervalued Right Now?

Nike's stock has declined 65% over five years due to management missteps, lack of product innovation, and increased competition. New CEO Elliott Hill, hired in October 2024, is attempting a turnaround by refocusing on sports, but revenue remains flat year-over-year (down 3% excluding currency effects). With a P/E ratio of 30 and no evidence of sales recovery, the analyst warns the stock appears to be a value trap and recommends avoiding it until the company demonstrates it can win back customers.