Nordstrom Stock Hits Historic Low as Analysts Warn 'The Bottom Is Nowhere in Sight'
JWN has now fallen for 214 consecutive sessions, a streak markets have never before recorded.
NEW YORK, NY (LNN) —Shares of Nordstrom Inc. plunged to a historic low Thursday, extending a decline that markets analysts now describe as unprecedented in the annals of modern finance, as the ongoing Balloongate crisis continued to erode what remains of investor confidence.
The stock, which trades under the ticker JWN, has now fallen for two hundred fourteen consecutive sessions — a streak with no recorded parallel. On the LNN business desk, the single red graph tracking the company's value has, this correspondent can confirm, only ever moved in one direction.
"Down again, and the bottom is nowhere in sight, Grant," this reporter told chief anchor Grant Halloway during the network's morning coverage, gesturing to the graph, which was pointing down. "There is, at this hour, no floor. We have looked. There is no floor."
Analysts attribute the collapse to a total loss of consumer faith following the Nordstrom First Walker Incident, compounded by four hundred press conferences in which the company's senior executive has communicated nothing beyond audible weeping. Institutional investors have reportedly begun pricing in "reputational damage of a civilizational scale."
One quantitative strategist, speaking on condition of anonymity, said his models had ceased functioning entirely. "The formulas assume a balloon was delivered," he said. "Every model assumes the balloon. When there is no balloon, the mathematics simply stops."
Trading in JWN was briefly halted Thursday afternoon after the graph reached the bottom of the screen and the network was forced to add additional screen. This is a developing story.
This is a developing story.
LNN broadcast still. Live coverage graphics simulated.