NKE - 1 Stock Down 48%: Is It a Forever Stock to Buy on the Dip?
2024-06-01 08:45:00 ET
The S&P 500 has been on a terrific run and currently sits near its all-time high. However, not all businesses have benefited from the rising stock market. One example is Nike (NYSE: NKE) . Since this leading apparel and footwear stock reached a peak price in late 2021, it has cratered, losing 48% of its value.
Value-oriented investors might have their eyes on this industry-leading company. Is Nike a forever stock to buy on the dip right now?
Nike has been around for about 60 years, and its success over such a long stretch of time could put it in the category of being a forever stock. In the past 20 years, the business has produced a total return of 1,240%. That's more than double the total return of the S&P 500 during the same time.
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1 Stock Down 48%: Is It a Forever Stock to Buy on the Dip?