nike stock has slid nearly 40 from its high in late 2021 but that is actually a testament to investors’ confidence in the athletic giant given that its peer group has fallen even further that faith may be misplaced warns seaport global analyst mitch kummetz downgraded nike nke to neutral from buy on wednesday while the company’s fiscal fourthquarter results are due to be released a week from thursday he said the shift isn’t related to that report or any fullyear forecasts the company will offer