Nike Inc. (NKE) shares continue a prolonged decline, reaching a point 76% below their 2021 all-time high. The sports giant is attempting to correct strategic missteps that led to a loss of market share and slowed growth rates.

Despite new CEO Elliott Hill’s efforts to get the company back on track, fiscal Q3 2026 financial results disappointed investors: revenue remained flat, and sales for the Converse brand plummeted by 35%. Particular concern is drawn to China, one of Nike’s largest markets, where the company expects a 20% sales decline in the fourth quarter.

While Nike remains a powerful brand offering a high dividend yield of 3.8%, analysts warn that a quick recovery is unlikely.