Rose Anvil
- Nike shares are on their longest losing streak since the company went public in 1980.
- The stock has seen nine straight days losses amid concerns about a demand slowdown in China.
- Nike has shed more than 20% in market capitalization so far in 2023.
Nike's stock just suffered its longest losing streak in over 40 years amid weakened investor sentiment as the retail giant grapples with a slowdown in China, its key growth market.
Its share price fell 1.4% to $101.46 at Tuesday's close – declining for a ninth straight day and marking the longest slump since the company's initial public offering in December 1980. The stock hit a nine-month low of $100.73 earlier.