New York, January 7, 2026, 14:56 EST — Regular session
- Nike shares fell in afternoon trading as investors weighed a retreat from NFTs and fresh analyst caution.
- A Bloomberg report said Nike sold digital collectibles unit RTFKT, with terms undisclosed.
- RBC cut its price target, citing pressure from China, Converse and U.S. tariffs.
Nike shares fell 2.5% on Wednesday, down $1.65 at $63.70 in afternoon trading after earlier touching $65.58.
The drop lands as investors keep testing how quickly CEO Elliott Hill can steady demand and margins. This week’s headlines – a reported sale of a digital unit and another trim to Street targets – pushed that debate back to the top of the tape.
Nike has sold its digital products subsidiary RTFKT, about a year after shutting the business, Bloomberg reported, citing a Nike spokesperson. “RTFKT transitioned to a new owner on December 17, launching a new chapter for the company and its community,” the spokesperson said, adding Nike “continues to invest” across physical and digital products. NFTs, or non-fungible tokens, are blockchain-based digital certificates tied to an item or collectible. Investing.com
RBC Capital on Tuesday cut its 12-month price target – an analyst’s estimate of where a stock could trade – to $78 from $85 while keeping an Outperform rating. Analyst Piral Dadhania wrote that Nike’s “path to profitable growth remains intact,” but that “timelines have lengthened” amid pressure from Greater China, Converse and U.S. tariffs on margins; RBC still expects about $3 in EPS, or earnings per share, by fiscal 2028. TipRanks+1
The wider sportswear group has turned jumpy. Bank of America this week double-downgraded Adidas, arguing the long-running “casualization” lift for sneakers has peaked and growth could cool, a view that puts more weight on brands’ ability to keep demand in performance categories.
Nike also figured among stocks weighing on the Dow on Wednesday as the index slid, with Caterpillar and UnitedHealth leading the declines, MarketWatch reported.
But the RTFKT divestment is unlikely to move Nike’s near-term numbers on its own, and the bigger swing factor remains pricing power. If demand softens further – or discounting and tariffs bite harder than expected – margins could come under fresh pressure.
Investors’ next clear checkpoint is Nike’s fiscal third-quarter report, scheduled for March 19 after the close, according to TipRanks. Traders will be listening for updates on Greater China demand, Converse trends and how much tariff-related costs are showing up in the margin line.
