Nike trades lower after Avenatti teases 'major' basketball scandal - InvestingChannel

Nike trades lower after Avenatti teases ‘major’ basketball scandal

Shares of Nike (NKE) moved lower after outspoken lawyer Michael Avenatti claimed on Twitter that he uncovered the shoe giant perpetrated a “major” college basketball. The details will be announced tomorrow, Avenatti said. His tweet reads, “Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.” Shares of Nike are down 1%, or 94c, to $81.22 in midday trading following the tweet.