Nike Stock Drops After Moody's Downgrade

Nikes stock takes a hit as Moodys downgrades debt ratings, citing increased cost pressures and a competitive market. Despite Nikes strong brand, the downgrade signals concerns about the companys financial health and future cash flow. The stock, currently trading at $64.38, is down 21.2% from its 52-week high, reflecting investor concerns about Nikes ability to navigate these challenges in the global economy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.