I think our show says it all. It is MY favorite so far.
Considering their size – $16 BILLION in sales – Nike just continues to execute. The newest catalyst is not just their personalization strategy, but a flight to large cap stocks by institutions and a weaker US Dollar. The Apple partnership is smart, but not a huge boon for Nike sales. It’s a better deal for Apple.
I am biased to golf and think that Tiger Woods is a catalyst as well. If not so much now, than he has helped immensely the last 5-6 years in the transition from Jordan. I think Tiger is the greatest athlete ever – at this stage in his career. OOOOHHH AHHHHHH.
You may not agree with owning the stock, but betting against this classic brand seems foolish.
Tonight, the stock closed at an all-time high and shazaam, we have a show :) . I wish it was that easy.
The market is rewarding large cap stocks and multinationals right now. I believe it is a trend that continues for a while. It is the institution’s new way to own stocks amid the uncertainty. I do not own it, but based on it’s closing high tonight, I will tomorrow.
I am not of the opinion that Nike can double here but I believe there is good upside and I will let the position work itself out for now.
What an amazing American brand.