[Nike Stock Drops to Lowest Level Since September 2014, Market Value Evaporates by 78%] BlockBeats News, August 18, according to BIT (bit.com) market data, Nike (NIKE) shares fell more than 4% intraday today, breaking below the $40 mark and hitting the lowest level since September 2014. Compared to its historical peak in 2021, the stock has evaporated 78% in value, with its market capitalization now shrinking by over $200 billion. The sharp decline is primarily attributed to the former CEO's excessive shift toward direct-to-consumer channels, leading to the loss of wholesale shelf space, stagnation in product innovation, and market share being seized by competitors such as Hoka, On, Anta, and Li-Ning. Additionally, the Chinese market has seen consecutive quarters of significant declines, causing investors to lose confidence in Nike's ability to return to growth.