Nike stock rises 1.21% and outperforms rivals in market downturn
Updated
Updated · MarketWatch · May 7
Nike stock rises 1.21% and outperforms rivals in market downturn
12 articles · Updated · MarketWatch · May 7
Nike closed at $44.41 on Thursday, its second straight gain, while the S&P 500 fell 0.38% and the Dow dropped 0.63%.
The shares beat apparel peers including VF Corp, down 1.80%, and Under Armour's Class C and Class A shares, down 0.48% and 1.08% respectively.
Nike remains 44.60% below its 52-week high of $80.17 reached on 25 August, and trading volume of 16.9 million was below its 50-day average of 21.9 million.
With insiders buying big, is Nike's stock a massive bargain or a classic value trap for investors?
Nike is cutting jobs to save billions. Is this enough to win back market share from rivals like Adidas and Hoka?