Nike Stock Shares Drop Following Zion Williamson Shoe Incident
By Jason Lisk
Zion Williamson blew through his shoe last night and sustained a knee injury. Darren Rovell was on it, as you knew he would be, to give us the important details.
It’s not a material loss to Nike’s business, but I wouldn’t be completely surprised if Nike’s stock, on no other news, didn’t do a little dip tomorrow morning from this prominent event.
— Darren Rovell (@darrenrovell) February 21, 2019
NIKE STATEMENT: “We are obviously concerned and want to wish Zion a speedy recovery. The quality and performance of our products are of utmost importance. While this is an isolated occurrence, we are working to identify the issue.”
— Darren Rovell (@darrenrovell) February 21, 2019
With an hour to go before the market opens, Nike shares are down 1.73%. Two pieces of recent news. Obviously Zion’s shoe last night + some Nike Adapt shoes needing updates to function.
— Darren Rovell (@darrenrovell) February 21, 2019
That Nike Adapt shoes story? It’s a smaller story, but I’m sure you’ve been keeping up. Puma was the first to jump in on Nike in the immediate aftermath of the shoe drama. They soon deleted the tweet. But there’s no doubt that the sole of a shoe blowing out for the #1 player in the country was a prominent product failure. The early word from Coach Mike Krzyzewski is that the injury is a mild knee sprain, which is great news. For those bots inclined to think only in terms of market shares, it also means less of a PR nightmare for Nike than if he had blown out his knee and been out for a lengthy period of time. Now, they can create a special Zion shoe to handle his freakish ability and market it to people who cannot leap out of the building like he can.
Meanwhile, Zion National Park is doing just fine despite the rough winter pounding away on the country.
Get Well Soon @ZionNPS
— Carlos Boozer (@MisterCBooz) February 21, 2019