Nike (NKE) - Get Report has gotten its product buzz back, and investors may want to give the stock a second look after a vicious rout as a result

The sneaker giant has just released a version of the Air Max 1 iD that changes colors, reportsTeen Vogue. The shoes boast a special finish that appears pink at certain angles, blue at others, and can also shift to purple. Talk about the perfect sneakers to show off in Instagram selfies. 

Coming as no shocker, Nike has led with footwear innovation as that is its most important business, representing more than 45% of annual sales. Nike's share of the U.S. sneaker market stands at a dominant 45%, according data from The NPD Group.

TheStreet takes a quick look at several other new Nike sneakers that confirm the company's innovation engine is roaring back to life, and could boost sales and profits.

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