Sportswear company Nike spent approximately $12.1 billion on stock buybacks since June 2022, for shares now valued at about $4.2 billion. This has resulted in an opportunity cost of $7.9 billion, as the company paid an average of $97.57 per share, while its stock opened at $33.70 today. Nike's market capitalization has fallen from $187 billion in June 2022 to $51 billion today, and its repurchase program is currently paused with $5.9 billion remaining from its $18 billion authorization.