Nike's 1.49% Drop: $920M Volume Ranks 109th as Consumer Shifts and Inventory Challenges Weigh

Nike Inc. (NKE) closed at a 1.49% decline on October 9, 2025, with a trading volume of $920 million, ranking 109th among U.S. stocks by liquidity. The selloff followed mixed signals from its consumer engagement strategies and broader market uncertainty ahead of key earnings reports.

Analysts highlighted shifting consumer preferences toward niche athletic brands and seasonal inventory management challenges as potential pressure points. Recent product launches in the running category saw uneven adoption rates, while digital channel performance remained below pre-pandemic benchmarks despite increased social media engagement.

Market participants noted that Nike's retail partners are recalibrating order sizes amid macroeconomic headwinds, with some distributors reporting excess stock in core footwear lines. This aligns with broader industry trends showing slower inventory turnover in Q3 2025 compared to the same period in 2024.

To run this back-test rigorously I need to pin down a few practical details: Universe—Do you want to rank all U.S. exchange-listed stocks (≈ 4,000 tickers) or a narrower set (e.g., S&P 500 constituents)? Ranking metric—“Trading volume” measured in shares, or dollar volume (shares × price)? Execution prices—Buy at the same day’s close and sell at next day’s close (standard), or use open prices? Weighting & costs—Equal-weight the 500 names each day? Any transaction cost/slippage assumptions? Once these are clarified I can fetch the necessary volume and price data, construct the daily 500-stock baskets, and run the back-test from 2022-01-01 to present.