Nike Stock Is Trading Near a 7-Year Low. Is Now the Time to Buy?
Shares of Nike (NYSE: NKE) keep on sinking. The company's sales have been underwhelming, and it is facing considerable challenges due to trade wars and the threat of a recession on the horizon. But at the same time, it still owns an iconic brand that resonates with people all over the world.With the stock trading around levels it hasn't been at in years, could Nike be a good contrarian buy right now?As inflation has chipped away at consumer purchasing power, Nike has seen its sales come under pressure. Customers have less money for discretionary purchases, and that's bad news for a company that sells high-priced apparel. In its most recent quarter, sales were down more than 9% when compared to the prior-year period.Continue reading
Shares of Nike (NYSE: NKE) keep on sinking. The company's sales have been underwhelming, and it is facing considerable challenges due to trade wars and the threat of a recession on the horizon. But at the same time, it still owns an iconic brand that resonates with people all over the world.
With the stock trading around levels it hasn't been at in years, could Nike be a good contrarian buy right now?
As inflation has chipped away at consumer purchasing power, Nike has seen its sales come under pressure. Customers have less money for discretionary purchases, and that's bad news for a company that sells high-priced apparel. In its most recent quarter, sales were down more than 9% when compared to the prior-year period.
