How did Nike's IPO perform?

Nike's IPO was a significant event in the company's history. It occurred in the second week of December in 1980, positioning Nike as a prominent player in the public market alongside Apple, which also had its IPO the same week. At the time of its IPO, Nike's market capitalization was approximately $400 million. The IPO transformed Phil Knight, co-founder of Nike, into one of the wealthiest individuals in America overnight, with an ownership of about 46% of the company. This dramatic shift in his financial status was a pivotal moment, symbolizing the company's transition from a private entity primarily focused on running shoes to a major public corporation with widespread market influence 1.