Nike's $20 Billion Problem

For fifty years, Nike was untouchable. The Swoosh. Just Do It. Air Jordan. A fifty-billion-dollar empire built from a waffle iron in a track coach's kitchen. Then, on June 28th, 2024, Nike lost twenty-eight billion dollars in market value in a single trading session — its worst day in fifty years of history. This video tells the story of what happened to Nike — how a single strategic decision, Consumer Direct Acceleration, handed competitors like Hoka, On Running, and New Balance the shelf space they never could have taken on their own. And how the most iconic athletic brand on earth ended up in a turnaround it is still fighting to complete.