Nike leads the Dow as buyers dip back in

code6d

Nike (NYSE:NKE) was the biggest gainer of the Dow 30 stocks late in Wednesday afternoon trading as investors jumped back into the athletic apparel stock.

Shares of Nike (NKE) rose 3.25% and are now up more than 12% in a partial recovery from the earnings slide on September 30.

As for the rally on Wednesday, there was not any macroeconomic developments that led economists to strongly believe that the Fed will pivot from its hawkish stance on interest rates and monetary policy, but there is some growing sentiment that Nike’s earnings day collapse was overdone.

For their part, Seeking Alpha authors have pitched the bull case, neutral case, and bear case on Nike over the last week.

Leave a Comment

Your email address will not be published. Required fields are marked *