Nike stock falls to 12-year low as options market turns bearish

Nike (US6541061031) stock traded around USD 38.43 on September 4, 2026, leaving the sportswear giant at a 12-year low and well below its recent 52-week high of USD 76.95 as investors digest softer revenue trends and rising options-market hedging.

Stock under pressure with deep drawdown

According to an article on ad-hoc-news.de dated September 4, 2026, Nike stock changed hands at USD 38.43, giving the company a market capitalization of USD 57.06 billion and marking a 52-week trading range between USD 37.96 and USD 76.95 as of that date.

Market data compiled by Investing.com on September 4, 2026 shows Nike stock at USD 38.14 in early trading, down 49.4% over the past year, underscoring the depth of the drawdown from earlier levels and reinforcing the impression of a prolonged correction phase for the shares.

Earnings miss on revenue despite EPS beat

A same-day overview from MarketBeat.com reports that Nike recently delivered quarterly earnings per share of USD 0.20, beating a consensus estimate of USD 0.11 by USD 0.09, while revenue declined 1.1% year over year in the same quarter, signaling margin resilience but top-line pressure.

The ad-hoc-news.de article notes that in this latest reported quarter, classified as Q4 with revenue of USD 11.0 billion, Nike saw its sales slip in the low single digits compared with the prior year, a decline consistent with the 1.1% year-over-year drop highlighted by MarketBeat.com and pointing to slower demand in key categories.

Analyst targets and options point to volatility

Based on data reported by MarketBeat.com on September 4, 2026, the current analyst consensus on Nike is a Hold rating, with a consensus target price of USD 52.94, implying upside of around 38% from the USD 38.43 level cited by ad-hoc-news.de if the average estimate were reached.

An options-flow commentary on the moomoo community dated September 4, 2026 highlights that Nike's daily option premium amounted to approximately USD 67.21 million, with put options accounting for around USD 66.48 million, and describes strong interest in about 88,000 contracts of USD 40 strike put options, framing a clearly bearish options stance near the current share price.

Product and brand: Nike Air line remains central

Alongside its broad footwear and apparel portfolio, Nike's Nike Air footwear line remains one of its most visible product families in running and lifestyle shoes, serving as a key driver of brand recognition with repeated limited releases and collaborations that help sustain demand despite the current stock-market weakness.

Stock valuation and market context

Investing.com lists Nike at a trailing price-earnings multiple of 18.5 times and a forward price-earnings multiple of 22.6 times as of September 4, 2026, suggesting that even after the significant share price decline, valuation still embeds expectations for earnings growth relative to the recent reported quarter.