1 Stock Down 48%: Is It a Forever Stock to Buy on the Dip?
The S 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 (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 500 during the same time.
Source Fool.com
Nike Inc. B Stock
€68.77
2.870%
The stock is one of the favorites of our community with 63 Buy predictions and 2 Sell predictions.
With a target price of 110 € there is a hugely positive potential of 59.95% for Nike Inc. B compared to the current price of 68.77 €.
