Could This Bear Market Buy Help You Become a Millionaire?
The stock's deeply discounted price is tempting, but only if the underlying business is capable of thriving again.
The broad market has worked its way out of the bear market it stumbled into earlier this year. But not every name has followed suit. Shares of Nike (NYSE: NKE) continue to drift lower, down 66% from their 2021 peak and still making new 52-week lows.
As veteran investors can attest, however, the time to step into a good stock is after it's been beaten down, and before a recovery move takes hold.
And this premise raises an important question for Nike: Is this a good stock of a company with a bright future that's simply passing through some temporary turbulence? Or is the stock's recent performance a fair indictment of the company's recent past, present, and plausible future? If it's the former, dive in. If it's the latter, though, steer clear.
