Nike shares slide in pre-market trading after Zion Williamson's sneaker malfunction

Callum Burroughs

  • Shares in sportswear giant Nike are sliding in pre-market trading Thursday after a star college athlete was injured when his sneaker malfunctioned during a high profile basketball game.

  • Duke University's Zion Williamson, who is expected to be the top pick in the upcoming NBA draft, sustained a knee injury after his shoe split open just 33 seconds into a game against North Carolina.

  • The sportswear company was quick to point out the problem was an "isolated occurrence" but its shares are down 1.6%.

  • Follow Nike's share price live at Markets Insider.

Shares in sportswear giant Nike are sliding in pre-market trading Thursday after a star college athlete was injured when his sneaker malfunctioned during a high profile basketball game.

Duke University's Zion Williamson, who is expected to be number one pick in the upcoming NBA draft, was injured after his Nike 2.5 PE's exploded just 33 seconds into a game against key rivals North Carolina.

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Nike shares are down 1.6% in pre-market trading as 6.40 a.m. ET on Thursday.

"We are obviously concerned and want to wish Zion a speedy recovery," Nike said in a statement, per Bleacher Report.

"The quality and performance of our products are of utmost importance. While this is an isolated occurrence, we are working to identify the issue."

Duke University basketball players have been wearing Nike since 1993. The injury was a massive blow to Duke's chances this season, and could derail its national championship hopes.

The incident was caught by former US President Barack Obama who can clearly be seen saying "His shoe broke" in the crowd.

The 18-year-old Williamson was sent messages of condolences by President Obama and by NBA legend LeBron James.

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SEE ALSO: Zion Williamson's shoe exploded and he injured a knee in first minute against North Carolina

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