Nike Stock Is Down 76% From Its High. Is It Time to Invest in a Possible Comeback?

Nike's stock has plummeted 76% from its all-time high due to strategic missteps, including abandoning physical retail for a digital-first direct-to-consumer approach that ceded market share to competitors. While the company has returned to brick-and-mortar stores and remains the global market leader, it faces flat revenue growth and analyst forecasts predict a 2% revenue decline before recovery. The stock's valuation is more attractive with a P/E ratio near multiyear lows, but investors should wait for clear signs of turnaround success before considering it a growth investment.