Nike Stock: Should You Buy the Dip?
Sporting apparel giant Nike (NYSE: NKE) has had a rough year; the Swoosh is one of the worst-performing members of the Dow Jones in 2022, and the stock took another slide lower after reporting earnings for the first quarter of its fiscal 2023 year. It's understandable to see stocks sell off in this market, but why has Nike stumbled so much?
Knowing the answer to that question can help you answer another one: Is Nike worth buying? Or should you be running away as fast as you can? A look into the numbers will underline some short-term challenges, but you might be surprised about the long-term outlook. Time to dive in.
Nike doesn't need some elaborate introduction: The company is the world's leading sports apparel brand; its iconic Swoosh is everywhere, endorsed by many of the world's leading athletes, from Michael Jordan to LeBron James and Cristiano Ronaldo. It's also well-known among investors as not only one of 30 members of the Dow Jones Industrial Average but an all-time winning stock. A $10,000 investment at the company's initial public offering (IPO) would be worth $7.6 million today, even after the stock's large slide.
Source Fool.com
