Nike Shares Slip to $62.41, Break Below 50-Day SMA After 15.6% Decline
Shares of Nike closed at $62.41 on Feb 9, slipping below its 50-day SMA of $63.89 and 200-day SMA, signaling bearish momentum after a 15.6% six-month decline. The company faces $1.5 billion in annualized product cost increases and a 16% revenue drop in Greater China, weighing on near-term margins.
1. Technical Breakdown
Shares of Nike closed at $62.41 on February 9, falling below its 50-day simple moving average of $63.89 and its 200-day SMA, indicating a shift to bearish technical momentum and fading investor confidence.
2. Relative Underperformance
Over the past six months, Nike stock declined 15.6% versus a 12.8% fall in the shoes and apparel industry and lags competitors like Carter’s (+56%) and Steven Madden (+48.5%). It trades 24.3% below its 52-week high of $82.44.
3. Structural Headwinds and Outlook
Nike faces $1.5 billion in annualized product cost increases tied to higher U.S. tariffs, dragging fiscal 2026 margins by 320 basis points. Greater China revenues fell 16% with EBIT down nearly 50%, and the company guides for low-single-digit revenue declines in third-quarter fiscal 2026.