Nike’s stock price dropped after the company issued a negative outlook for the fiscal year. Despite the price decrease, some analysts believe the stock is not yet undervalued. The company’s earnings report showed a decline in sales and profits, leading to concerns about the impact of the ongoing trade war and increased competition. However, some analysts argue that the stock is still a good buy due to its strong brand and market position. The company also announced plans to increase prices on some products to offset rising costs. The stock closed down 6% on the news.
