economy

January 9, 2026

Jim Cramer calls a Wall Street analyst downgrade of Nike stock 'fatuous'

Nike CEO Elliott Hill is " working his butt off," Jim said on "Squawk on the Street."

Jim Cramer calls a Wall Street analyst downgrade of Nike stock 'fatuous'

TL;DR

  • Needham downgraded Nike stock to 'hold' from 'buy' due to inventory issues and weakness in China.
  • The turnaround under new CEO Elliott Hill is perceived as taking longer than anticipated.
  • Jim Cramer criticized the downgrade as 'fatuous,' given the stock's current price.
  • CEO Elliott Hill is focused on stabilizing inventory, improving performance in China, and innovating products.
  • Insider buying from Nike board members and CEO Elliott Hill suggests the stock is undervalued.

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