Nike shares closed at about $151.85 on October 7, 2021. A $1,000 investment at that price would have bought roughly 6.59 shares.
Nike closed at $34.61 on October 6, 2026, meaning those shares would now be worth approximately $228.
That represents a loss of roughly $772, or about 77%, before accounting for dividends.
The decline is particularly striking because Nike entered the period near the height of its pandemic-era valuation, when the shares were trading close to record levels.
Since then, the company has struggled with weaker growth, heavy discounting, product issues and intensifying competition. China has also become a major problem, with Nike reporting a sharp decline in sales in the region.
The company is now attempting another turnaround under CEO Elliott Hill, including cost reductions, changes to its product strategy and efforts to rebuild relationships with wholesale partners.
For investors, Nike is a reminder that buying a great brand is not necessarily the same thing as buying a great stock — particularly when the starting valuation is high.