The source notes that Nike shares closed at $39.88 on Sept. 25, 2014, around the time LeBron James rejoined the Cleveland Cavaliers, and says the stock is now approaching that level again.
The source links Nike’s current share-price weakness to a historical reference point from September 2014, when LeBron James returned to the Cleveland Cavaliers, his hometown team. It states that Nike stock closed at $39.88 on Sept. 25, 2014, describing that price as a closing low that has not been revisited since. According to the source, Nike shares are now moving close to that level again. The reference frames the company’s recent decline against a long-term benchmark, highlighting how far the stock has retreated relative to a decade-old low.