And how did the Kobe contract not get re–upped? This is such a stupid move on behalf of Nike to let this contract expire. I hope the same team who dropped the ball (no pun intended) on the steph curry negotiation didn’t strike out on this too!!
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Granted Nike doesn't depend on athletes as much as it used to, I feel this move sends up a red flag for future Nike athletes. They'll have to ask themselves, "Is Nike going to really take care of me? Or am I always going to have to be watching my back around these guys?".
@1spf, and you need to learn a bit of humility
@1upf, you’re right this isn’t rocket science.
The stock price declined 5% yesterday because a Citibank analyst downgraded Nike, due to stated headwinds that don’t have diddly to do with Kobe. You could see on the ticker how the price starting dropping within minutes of his downgrade.
Yet some of you comically think not renewing Kobe’s contract – a business that represents about .07% of Nike’s total revenue – caused the stock to decline 5%.
Lolz.
Herp derp indeed. Some of you need to buy a vowel.
@ula – this isn’t rocket science and looking at the stock price is quite the indicator – go back to the rock you climbed out from under. Herp Derp – who even says that?!
@ula Meanwhile the stock price just happens to drop 5 %... what could they possibly know...
Herp derp GTFO
Hey OP, I like how in one sentence you call the lack of a renewal “a stupid move” and then in the very next sentence you acknowledge that you have no visibility whatsoever into what happened or why it wasn’t renewed.
“Er, derp, I don’t know what actually happened but I definitely know it was stupid. Herp derp.”
Lolz.
Stereotypical in this day and age. Get outraged about something when you haven’t even the slightest clue as to what actually went down.
AND yet JD couldn’t get out of his way to talk about “Drake on the Lake” during CDA with massive layoffs. WTF is going on? When is the BOD going to intervene? Stock is DUMPING so on top of this poorly executed contract failure we have an all hands meeting that we can only imagine how much of a dumpster fire it will be.