Nike falls due to changing targets

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Source: Dukascopy Bank SA


The US based sportswear firm Nike has announced that it is withdrawing its annual sales target and called off the firm's investor day that was scheduled for 19 of November. In addition, the CEO announced that the actions have been done to provide the incoming new CEO with time needed to evaluate the firm's business and strategies.

The markets reacted to the news by dumping the stock of the firm. The share price of Nike dropped almost 8.00%.
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