Nike stock could be headed downward

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Thursday, May 24, 2012

Unrest in Europe and an oversupply of products will hurt Nike sales and drive down the stock price below $100, a stock analyst says.

Under that scenario, the downturn would follow two major, every-four-years sporting events this summer -- the Olympics in London and the European Football Championships. Nike is building up to both with major spending in marketing and products distribution.

However, "There is a strong likelihood that consumer fatigue could set in after two back-to-back events," said Camilo Lyon of Canaccord Genuity, who has a "hold" rating on the stock.

Read more at OregonLive.com.

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