According to CoinMeta, on Thursday, Nike informed investors that it expected to lay off employees, experience a decline in profitability, and reduce the launch of Jordan-related products due to its stock price plummeting to a 13-year low. The company's market value dropped from $264 billion in November 2021 to $53 billion, and it fell another 9% in after-hours trading. Nike executives are working hard to stop this continuous decline and announced some measures in their latest financial report, including plans to close online discount channels in China, lay off employees, and reduce the release of retro products. The stock price of Nike has now returned to levels seen in September 2013. Revenue for the most recent fiscal quarter decreased by 4% to $1.12 billion, falling short of the expected $1.13 billion, although earnings per share of 48 cents exceeded the anticipated range of 43-44 cents. Nevertheless, Nike expects full-year sales to decline by a high single-digit percentage, with adjusted earnings per share forecasted at $1.15-1.35, which is far lower than analysts' prediction of $1.68.