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NIKE, Inc. (NKE): A Bear Case Theory 

We came across a bearish thesis on NIKE, Inc. on Uncle Stock Notes’s Substack. In this article, we will summarize the bulls’ thesis on NKE. NIKE, Inc.'s share was trading at $65.39 as of December 1st. NKE’s trailing and forward P/E were 33.53 and 40.32, respectively according to Yahoo Finance.

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Nike’s Q1 FY2026 results underscore a company in transition, struggling to find footing amid mounting competitive and operational pressures. While total revenue rose a modest 1%...