Nike has limited time to prove itself, especially after a tough analyst downgrade

Nike is on the clock — its turnaround efforts are taking too long. Our patience is wearing thin. The stock has been a "remarkable loser," Jim Cramer said Wednesday on CNBC. In a second day of broader market selling, Nike was giving back nearly half its 3.3% gains in the prior session. Shares are down more than 30% year to date versus the S & P 500 's 6.5% advance. Jim agrees with how RBC Capital Markets described the situation. …