1 Bullish Sign for Struggling Nike Stock
It's no secret that Nike (NYSE: NKE) has had substantial challenges in the past few years. The stock is trading near its 52-week low of $42 per share, and the company recently underwent significant leadership changes. As the athletic brand fights to stay relevant, there is one potentially overlooked bullish signal coming from within.
On April 10, CEO and Nike board member Tim Cook purchased 25,000 shares of Nike. Just a few days later, Nike CEO Elliott Hill purchased 23,660 shares. This follows Cook's December purchase of 50,000 shares.
Insider buying is often viewed as a bullish signal that the company could begin moving in a more positive direction. The fact that Cook and Hill have both purchased healthy numbers of shares recently could be a real vote of confidence. Now the question is if Nike's turnaround is, in fact, working.
Source Fool.com
Nike Inc. B Stock
Our community is currently high on Nike Inc. B with 70 Buy predictions and 5 Sell predictions.
With a target price of 64 € there is a hugely positive potential of 84.52% for Nike Inc. B compared to the current price of 34.69 €.
