Let’s see how the 4th Quarter sales numbers look before concluding NIKE made a wise decision to irritate more than half of their customer base.
In the past my wife would order a NIKE shirt for her brother’s birthday present.
Not so this year. Her brother will get a New Balance shirt for his birthday present.
This is a short term pump of the stock. I would watch it over the next year to see what happens. They are trying to keep a positive narrative right now. If sales drop off in the near future they won’t be able to hide it.