Why Nike Stock Jumped 18% in November
Shares of Nike (NYSE: NKE) were gaining last month as the sportswear giant benefited from good news out of China, and a cooler-than-expected inflation report gave it a boost as well.
The stock had gotten slammed in its most recent earnings report back in September as its earnings fell due to excess inventory, but the improving economic outlook in the U.S. and the relaxation of China's Zero COVID-19 policy should help its recovery.
According to S&P Global Market Intelligence, the stock finished the month up 18%. As the chart below shows, much of its growth came during the second week of the month when the cooler-than-expected inflation report came out.
Source Fool.com
