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News  ›  Investing.com

Nike Gets a Confidence Boost as Insider Buying Signals Belief in the Turnaround

Investing.com Logo Investing.com By Timothy Fries
Nike Gets a Confidence Boost as Insider Buying Signals Belief in the Turnaround

Nike stock rallied 2.11% in premarket trading after Apple CEO Tim Cook purchased 50,000 shares for $2.95 million, signaling confidence in the company's turnaround strategy. Independent director Robert Swan also bought 8,691 shares. Despite Nike being down 24.2% year-to-date and facing challenges in China and tariff pressures, Wall Street maintains a Moderate Buy consensus with an average price target of $80.00, suggesting 39.52% upside potential.

Insights
NKE   positive

Significant insider buying by high-profile executives (Tim Cook and Robert Swan) signals strong confidence in the turnaround strategy. Stock rallied 2.11% on the news. Wall Street maintains Moderate Buy consensus with 39.52% upside potential from current levels, despite near-term headwinds.