Insider Activity at Nike Signals Confidence Amid Weakness

27 days ago

"Nike up as much as 2%. The reason for this is there's a filing that shows that Apple CEO Tim Cook purchased $2.95 million worth of shares on Monday. Now, if you remember Friday, Nike shares dropped 11%. They warned of the sales decline, the current quarter weakness in China, weakness in his Converse brand. And then what does Coke have to do with Nike? You're kind of trying to figure it. Cook is actually Nike's lead independent director. He's served as director since 2005, but the filing shows he purchased 50,000 Class B common stock weighted average price of $58.97. So he now owns just over 105,000 shares in Nike."

The discussion centers on Nike's modest 2% rise following a significant insider move by Tim Cook, who, despite a previous drop of 11%, increased his stake in the company. This move is highlighted against a backdrop of sales cautions in China and brand-specific weaknesses, suggesting a nuanced signal regarding Nike's short-term dynamics.

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