Nike, once considered a powerhouse in the athletic apparel industry, is experiencing a troubling decline in its stock value. OutKick's Craig Carton has pinpointed several reasons for this downturn, suggesting that the company's recent marketing strategies and partnerships have failed to resonate with consumers.

In a recent segment, Carton highlighted the backlash against Nike's new "Specter Edition" NBA jerseys, describing them as poorly designed and likening them to a chaotic art project. This criticism reflects a broader sentiment among consumers who feel disconnected from the brand's recent offerings.

Carton also pointed to a series of controversial partnerships that have contributed to Nike's struggles. He recalled the company's decision in 2018 to align with former NFL player Colin Kaepernick, which involved a shift from the iconic "Just Do It" slogan to the more polarizing "Dream Crazy." This move, according to Carton, alienated a segment of Nike's customer base who felt the brand was prioritizing political statements over its core athletic identity.

Furthermore, Carton mentioned Nike's decision to withdraw the Betsy Ross Edition shoes in 2019 at Kaepernick's request, as well as a slogan change to "Don't Do It" following the George Floyd protests. These actions, he argues, have confused consumers and diluted the brand's message.

In 2023, Nike made headlines again by partnering with trans influencer Dylan Mulvaney, a decision Carton believes has further damaged the brand's reputation. He criticized the move as a departure from the historical significance of women's sports, particularly referencing the iconic moment when Brandi Chastain celebrated her World Cup victory by revealing her Nike sports bra.

As Nike prepares to be removed from the S&P 100, the implications of these marketing missteps are becoming increasingly evident. Carton's analysis serves as a wake-up call for the company, urging it to reevaluate its strategies before its standing in the market deteriorates further.