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Nike's stock falls behind rivals amid Rio Olympics The quadrennial global sports event exposes apparel brands worn by top athletes to hundreds of millions of viewers, but growing competition and higher costs may be reducing the benefits of major endorsement deals.Neither Adidas nor Under Armour are official Olympics sponsors. swimming legend Michael Phelps. Adidas supplies uniforms nike dri fit shirts to teams including Britain and Germany, and it is releasing special edition sneakers lined in bronze, silver and gold.The stock surged by a range of 4 percent to 19 percent during the six summer Games from 1984 to 2004. But it fell almost 3 percent during the 2008 Olympics in Beijing and the same amount during the 2012 Games in London, nike huarache ultra according to Bespoke Investment Group.Under nike h web glove Armour listed its shares in 2005."You have increased competition. Under Armour is a public company out there now competing for more sponsorships. It's more expensive for the companies involved," said Bespoke co founder Paul Hickey.