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Nike shares put through wringer by Avenatti’s alleged extortion attempt and subsequent arrest

Ciara Linnane
Nike shares put through wringer by Avenatti’s alleged extortion attempt and subsequent arrest

Nike Inc. shares fell then recovered most of their losses in afternoon trade Monday, after a drama-filled ten-minute period in which lawyer Michael Avenatti said he would unveil a major scandal involving the sporting goods giant — before being arrested.