Ed Butowsky says "you would want to be a fool to want to buy" Nike (NKE) after earnings. He makes the case the stock still has more room to the downside every after it plunged to 13-year lows. Jan Kniffen says the biggest problem remains product, with Nike lacking exciting new launches and facing intensifying competition from On Holding (ONON), Hoka, Adidas, and New Balance. He also sees China as a structural challenge where market share may not come back, and argues the stock is not cheap at a forward P/E of 23.