Jim Cramer says buy Nike's steep post-earnings fall. Here's why
The big post-earnings drop in Nike shares is a big opportunity.
TL;DR
- Nike shares dropped over 10% after the fiscal 2026 second quarter earnings report revealed worsening sales in China.
- Jim Cramer believes the stock is a buying opportunity, predicting it could reach $100.
- Cramer cites two primary reasons for his optimism: a potential Supreme Court ruling against tariffs and faith in new CEO Elliott Hill's leadership.
- Nike's performance in China was described as 'devastating,' with promotional and pricing strategies failing to resonate.
- Elliott Hill aims to adapt Nike's approach to China's market, acknowledging that changes will take time.
- Jeffries analysts maintained a buy rating but lowered their price target to $75 due to China concerns.