Nike: Rotten Stock?
Nike is really well known for its endorsements by both pro and student athletes. Wednesday night, though, there was a bit of a debacle for Nike. In the middle of one of Duke basketball player Zion Williamson's games, his shoe, a Nike PG 2.5, just spontaneously fell apart. Reading about this Wednesday evening, I remember going to bed that night thinking, "Oh, Nike's stock is going to take a hit."
It seems that I was naive. The next morning, when I checked Nike's stock, it had indeed slipped slightly, but nothing nearly as major as I expected.
A Washington Post article I read afterwards stated that this event really wouldn't hurt Nike's brand substantially. I thought this was a little surprising, since I felt like this high-profile product failure might suggest that Nike was having some problems in their design and manufacturing. So, what was your reaction to all this? What do you think about Nike?
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