After an Epic 2019 Rally, I've Got Nike Stock on Hold -- for the Moment
Trade wars. Global economic slowdown. Recession. These are terms that don't bode well for any company, especially an international consumer goods powerhouse like Nike (NYSE: NKE).
But when uncertainty abounds, it can sometimes lead to bargain purchases that pay off, and uncertainties in 2019 helped the world's largest shoe brand deliver with a 36% gain on the year. That tops off a nearly 100% return over the last three years (more than double what the S&P 500 has offered up over the same time frame).
Sneakers are a hot commodity around the globe right now, and Nike's leadership in that department isn't going to fade anytime soon. However, as good as recent results have been, it's time for a pause. Don't bet against Nike, but I'm looking for a pullback before jumping back in.
Source Fool.com
