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Nike (NKE) share price dropped 2% after-hours as faltering sales in China overshadowed a fourth-quarter earnings and revenue beat.
Nike’s weak China sales, struggling brands, and analyst downgrades are raising doubts about the company’s turnaround.
Nike Inc. (NKE), Nio Inc. (NIO) and AppLovin Corp. (APP) shares tumbled to 52-week lows on Friday as investors weighed weaker outlooks, margin pressure and legal uncertainty. Nike cut its guidance, Nio faced continued concerns over China’s EV price war and cash burn, while AppLovin suffered a court…