Nike’s nightmare collapse deepens as shares crash 78% from highs — critics say brand went ‘woke’ and now it’s broke

The Yahoo Finance report, published August 19, describes a steep decline in Nike shares from their highs and frames the debate around the brand’s direction, including criticism that it went “woke.” No specific cause, management action, or new financial guidance is provided in the supplied report.

The available company data shows FY2026 revenue of $46.4B, up 0.2% year over year, alongside a 42.9% gross margin, a 6.7% net margin, and $2.10 of diluted EPS. Those figures connect the share-price story to an operating business with substantial scale but limited reported net profitability.

The next useful evidence is more concrete operating disclosure: revenue momentum, gross-margin stability, inventory and demand trends, and management’s response to the brand criticism. Without that information, the report establishes the magnitude of the stock’s decline but not a new catalyst or a confirmed turnaround path.