Nike exploded to the upside Friday. Here is an amazing chart the Stocktwits team put together:
— StockTwits (@StockTwits) Sep. 26 at 12:50 PM
My kids own the stock. I own the stock. My fund owns the stock. I have been bullish for years on this blog.
I am not selling the stock but won’t add anymore. Even more than Apple and Google, Nike is a buy and hold and buy 20 plus percent dips for the Lindzon’s (2013 was the last good dip).
I can’t sell a stock that has appreciated 26,000 percent since it’s IPO in 1980.
As I mentioned in this blog a weeks ago…leisure is a currency and Nike is at the center of it for the forseeable future. Surprisingly, I have been wrong about Nike ‘fuel’ as a currency, but Wall Street has priced it as a zero anyway. I believe Nike will be back with ‘fuel’ at some point. Wearable has been more hype than reality but a fat America will one day get a currency that incentivizes it to lose weight and eat smarter.
Leisure is money. I doubt the rate of ascent can continue in Nike, but money never sleeps.