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The latest quarterly report from Nike (NKE) has shocked the stock market, sending the already crisis-stricken stock plunging massively to $43. Just last August, it was trading at $80. Although earnings and revenue were slightly above expectations, the outlook sent shockwaves. High tariffs continue to heavily burden the gross margin, while the crucial Chinese market has seen a concerning 7% decline, and the cult brand Converse faced a dramatic revenue drop of 35%. CEO Elliott Hill is attempting to manage the damage and emphasizes that the tariff...
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