"Shares of Nike ( NASDAQ:NKE) have been flying higher ever since Apple ( NASDAQ:AAPL) CEO Tim Cook, who's also on Nike's board of directors (and has been for quite some time), backed up the truck on shares of the sneaker giant, picking up around $3 million worth of shares. Undoubtedly, doubling one's position in a company on a historic dip represents a massive vote of confidence and one that should not go ignored."
"Even with the new Nike CEO Elliott Hill hard at work to turn the tide over at the fallen apparel juggernaut, it's been tough to own shares of Nike on weakness. That said, with Nike stock recently dipping to new multi-year depths and Cook jumping in at what may very well be the bottom in the name, I do think that it'd be wise to follow the two visionary leaders into the name while shares are still cheap."
Tim Cook purchased about $3 million of Nike stock, effectively doubling his position during a historic dip. CEO Elliott Hill also invested roughly $1 million in Nike shares. These insider purchases demonstrate strong confidence from two influential leaders as Nike stock reached multi-year lows. Valuation metrics sit at the lower end of historical ranges, but low valuation alone does not guarantee returns. 2026 is portrayed as potentially highly innovative for Nike, offering catalysts that could power a rebound. Nike relied on timeless classics, and a recent lack of successful innovation contributed to competitive losses.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]