Nike shares took a steep nosedive, dropping nearly 20% in one day after the company projected a decline in sales for the upcoming fiscal year. This announcement sent shockwaves through the market, reflecting significant turbulence at the largest company in Oregon. The historic drop in share value resulted in approximately $28 billion in shareholder wealth being wiped out. Investors are left reeling as Nike, a powerhouse in the athletic apparel industry, faces challenges ahead. The bleak forecast underscores the importance of adapting to shifting consumer demands and economic uncertainties. Nike's declining sales forecasts serve as a cautionary tale for companies operating in a rapidly changing market. As the industry leader grapples with these obstacles, stakeholders must closely monitor how Nike navigates through this challenging period and strategizes for future growth.