Why Do So Many Robinhood Traders Own Nike Stock?

One nifty feature available in the Robinhood free stock trading app is a top 100 list that reveals the most popular stocks owned by Robinhood users. The list represents a mixture of all kinds of stocks spanning several industries. There are a handful of top consumer goods stocks on the list, including Nike (NYSE: NKE).

A total of 102,882 Robinhood traders owned shares of Nike at the time of this writing. Obviously, Nike is a household name, and many investors like to buy shares of companies they know well, which follows the tried-and-true wisdom of investing legend Peter Lynch.

But what makes Nike a good stock to own now?

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Source Fool.com