Nike Stock Loses Over $1 Billion After Star’s Shoe Explodes
It's being called the biggest wardrobe malfunction since Janet Jackson.
The biggest rivalry in college basketball is Duke and the University of North Carolina. Separated by just under 10 miles apart, the two schools have been rivals since their first meeting in 1920.
The two teams played Wednesday night and it was the hottest ticket in town. It was the second highest ticket price for a game just behind a Super Bowl ticket. (Super Bowl ticket price: $4,656. Duke UNC ticket: $3,296)
One of the biggest draws to the game was the fact that Duke has the number 1 player in the country, Zion Williamson. This 18 year old is 6'7" and weighs 284 pounds and is one of the most dominate players to ever lace up a pair of sneakers. But sneakers were actually his downfall in the biggest rivalry game of the year.
Just 36 seconds into the game (the score was still 0-0), Williamson planted so hard on his left foot that his foot blew out his Nike shoe. The awkward landing caused a right knee sprain and forced him to leave the game for the rest of the night. Without their best player, Duke, never even held a lead and lost the game 88-72.
In the first 10 minutes of the trading window this morning (Thursday 2/21/19) the Nike stock was down 1% which is $1.12 Billion in it's market cap.
The injury was considered a mild right knee sprain. It was not a gruesome injury so if you watch the video below, it's not bad. But you will see the star's left foot burst through his shoe.