Nike stock falls after top NBA prospect Zion Williamson’s freak shoe explosion injury.
Very little sidetracks the sports apparel machine that is Nike, but the sight of one of its shoes disintegrating as a rising basketball superstar fell to the floor clutching his knee appears to have done it, sending the company’s stock down in early trading on Thursday (Friday NZT).
“His shoe broke,” former President Barack Obama said on Wednesday night (Thursday NZT), pointing from his courtside seat as Duke’s Zion Williamson picked himself and his Nike PG 2.5 shoe up and limped off 36 seconds into the North Carolina v Duke game. Williamson left with what the team said is a minor knee injury, with his availability for the rest of the season still to be determined.
Zion Williamson seems like an outstanding young man as well as an outstanding basketball player. Wishing him a speedy recovery.
— Barack Obama (@BarackObama) February 21, 2019
The repercussions for Nike were immediate if not severe, with the price of a share of stock dropping from Wednesday close of US$84.84 to US$83.47, a 1.61 per cent drop, at 11am Eastern time.