Nike shares slide in premarket trading after Zion Williamson's sneaker malfunction (NKE)

• Shares in the sportswear giant Nike were sliding in premarket trading Thursday after a star college basketball player was injured when his sneaker malfunctioned during a high-profile rivalry game.
• No. 1 Duke's Zion Williamson, who is expected to be the top pick in this year's NBA draft, sustained a knee injury after his shoe split open just 33 seconds into a game against No. 8 North Carolina.
• The sportswear company was quick to point out that the problem was an "isolated occurrence," but its shares were still down 1.6%.
• Follow Nike's share price live at Markets Insider.

Shares in the sportswear giant Nike were sliding in premarket trading Thursday after a star college basketball player was injured when his sneaker malfunctioned during a high-profile rivalry game.

No. 1 Duke's Zion Williamson, who is expected to be the No. 1 pick in this year's NBA draft, injured his right knee when his Nike 2.5 PE's exploded just 33 seconds into a game against No. 8 North Carolina. He missed the rest of the game, which North Carolina went on to win, 88-72.

Nike shares were down 1.6% in premarket trading at 6:40 a.m. ET on Thursday.

"We are obviously concerned and want to wish Zion a speedy recovery," Nike said in a statement, per Bleacher Report.

"The quality and performance of our products are of utmost importance. While this is an isolated occurrence, we are working to identify the issue."

Duke basketball players have been wearing Nike since 1993. Williamson's recovery time is unclear, as is the effect his injury will have on No. 1 Duke's chances this season.

The incident was viewed in person by former President Barack Obama, who could clearly be seen saying "His shoe broke" in the crowd.

Williamson, 18, was sent messages of condolences by well-wishers including Obama and LeBron James.

SEE ALSO: Zion Williamson's shoe exploded and he injured a knee in first minute against North Carolina

Join the conversation about this story »

NOW WATCH: Bud Light's 'Dilly Dilly' just made a comeback at the Super Bowl with a weird crossover ad with Game of Thrones — here's what the phrase means