Nike stock has dropped as much as 25% in just the past two weeks, after the Nike brand reported its third quarter earnings Thursday.
Nike’s stock price has declined since last week when the company announced its third-quarter earnings.
On Friday, the stock was down 0.2%.
Nike said it generated $1.5 billion in sales for the quarter.
That included sales from Nike’s “Wu” line of running shoes and a line of apparel.
Nugget, the company’s global sporting goods division, reported $1 billion in revenue for the fiscal year ending in June.
NPD Group Inc. analyst Jim Rifkin said he expects Nike to report adjusted earnings per share of $0.24 in the fiscal third quarter, which ended in June, and $0,23 per share in the fourth quarter, according to FactSet data.
The decline in Nike stock comes after the social media company announced the launch of its new social media platform, Snapchat.
The company said the social network is set to launch in the U.S. on Friday, with more markets to follow.