Nike's stock drops 23% YTD amid stagnant revenue, shrinking margins, and falling earnings.

Nike's stock has dropped 23% year-to-date, making it the Dow's third-worst performer, even as the index reaches all-time highs. The decline stems from stagnant revenue, shrinking gross margins, and falling earnings. The company has postponed its investor day, increasing uncertainty among investors. Despite a rising dividend yield of 1.8% and a lower price-to-earnings ratio, concerns about Nike's turnaround prospects persist.