Nike CEO John Donahoe Gets Slam-Dunked as Stock Takes a Nosedive

Ah, Nike – the brand that's been telling us to "Just Do It" for decades. But it looks like Wall Street is telling them to "Just Don't." Today, Nike posted its fiscal 2025 guidance and it was as dismal as a soggy sneaker. The news hit Wall Street harder than a LeBron James dunk, and at least six investment banks immediately downgraded the stock.

Now, you know things are bad when analysts from Morgan Stanley and Stifel are not just questioning the playbook but are actually wondering if the team captain, CEO John Donahoe, has been reading from the right one. It seems like Nike's management is losing its once ironclad credibility, like trying to grip a basketball with hands covered in butter.

But wait! In the stands, Nike founder Phil Knight, the Yoda of the sneaker world, is cheering Donahoe on, telling CNBC that Donahoe has his "unwavering confidence and full support." It’s like when your mom still believes in you even though you’ve just failed your math test.

Donahoe, the former eBay top exec, who’s been running the show at Nike since January 2020, is skating on thinner ice than a figure skater in the Sahara. After a year that ended with more bad news than a weather forecast for Seattle, Wall Street’s confidence in him is evaporating faster than a puddle in Phoenix.

Stay tuned, folks. It's a real cliffhanger – will Donahoe turn it around, or will he be getting the boot? One thing’s for sure, Nike's stock is having the worst day ever, and not even a pair of Air Jordans can lift it up right now.
$Nike (NKE.US)$