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Nike downgraded by BTIG amid continuing COVID-related supply chain disruptions

September 13, 2021

As a result of worsening supply chain disruption in Vietnam, BTIG has downgraded Nike’s rating from Buy to Neutral. Over the past few months, COVID-19 cases in Vietnam have continued to rise, with its fully vaccinated rate only between 4% and 5%. In response, Vietnamese government officials have responded by closing down manufacturing facilities throughout the country. Yahoo! Finance