NKE - 4 Reasons to Buy Nike Stock Like There's No Tomorrow
2024-06-23 05:30:00 ET
It's been a tough past couple of years for athletic apparel company Nike (NYSE: NKE) , and by extension, for its shareholders. Nike stock is down more than 40% from its late-2021 high and still trading within sight -- and reach -- of 2022's multiyear low.
A combination of competition, a lack of innovation, and the fallout from the COVID-19 pandemic are still taking a lingering toll. Its most recently reported quarter's revenue was merely flat compared to its year-earlier figure, while guidance for the next few quarters was a letdown. The stock's just behaving accordingly.
As the old adage goes, though, nothing lasts forever. There are four distinct reasons investors might want to go ahead and dive into Nike stock sooner than later, despite its recent weakness.
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4 Reasons to Buy Nike Stock Like There's No Tomorrow