1 Growth Stock Down 53% to Buy Right Now
It's been a tough past two-and-a-half years for (NYSE: NKE) shareholders. Just when it looks like the stock might be on the road to recovery ... it manages to log an even lower low. Shares are now priced 53% below their late 2021 peak, seemingly with room to fall further.
As the saying goes, however, it's always darkest before dawn. Translation: As uncomfortable as it may feel to do so, now's the time to dive into a new stake in Nike. A long-awaited revival of the brand's strength is brewing; better to be in too early than too late.
As a quick refresher, Nike was doing fine leading into the COVID-19 crisis. It even thrived during the first half of the pandemic, but it was also a time of change on the athletic apparel retailing front. Consumers fell in love with rival shoe brands such as On and Hoka, supply chain breakdowns presented inventory challenges, and after a few years of solid growth, China turned into a particularly challenging market. Nike also learned (the hard way) that it needs the third-party wholesale partners it was previously moving away from to complement its direct-to-consumer (DTC) business.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 61 Buy predictions and 3 Sell predictions.
With a target price of 110 € there is a positive potential of 45.91% for Nike Inc. B compared to the current price of 75.39 €.
