April 2, 2026

GET WOKE, GO BROKE: Nike Shares Now Slide to 11-Year Low.

AP Photo/Mark Lennihan, File.

Nike’s stock has slumped to its lowest level in more than a decade after the sportswear giant warned sales will keep falling through 2026.

Shares hit an 11-year low on April 1, capping a brutal stretch that has seen the company lose around 75 percent of its value since shares peaked in 2021.

It is now worth under $68 billion – a third of the value of TJ Maxx.

The latest sell-off was triggered by a bleak outlook, with Nike forecasting sales will slump 4 percent this quarter – a staggering $500 million fall in the value of shoes, tracksuits, and t-shirts.

The brand is being hit by a triple whammy: backlash to its more ‘woke’ image shift, a failed retreat from major retail partners in favor of direct-to-consumer selling, and a deepening slump in China.

* * * * * * * *

Nike’s recent ad campaigns have apparently featured not only Colin Kaepernick, who whines about being “oppressed” while enjoying fame and fortune, but also the woke Megan Rapinoe and a “non-binary esports player” – whatever that is – named Dominique McLean. That’s not very likely to draw a wide audience of loyal American buyers.

Why can’t these companies just advertise the virtues of their products? Why not just make the case to the buying public that Nike athletic shoes and so forth are better quality, longer-lasting, more comfortable, and explain why? Traditionally, advertising has promoted the virtues of a product. The company is looking to entice buyers to a free trade in which their buyers perceive a gain in value; that the shoes, or sportswear, or whatever, will return value to them greater than the cost of the product.

Promoting anti-American woke nutbars does nothing to that end. Nike seems to be learning that; they are learning, as other companies have before them, what it means to “get woke, go broke.”

How woke did Nike get before the plummet began? This woke:

Posted at 4:30 pm by Ed Driscoll