Nike stock could be headed downward

Nike stock could be headed downward

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.