Sales revenue outlook falls short of expectations, Nike's market value evaporates by over 28 billion US dollars
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On June 28th local time, Nike's stock price plummeted by 20% due to growth concerns caused by lackluster sales performance, and the company's market value evaporated by over $28.4 billion. Nike predicted a median single digit percentage decline in revenue for the fiscal year 2025, while analysts predict a growth of nearly 1%.
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