We're buying the post-earnings slump in a stock alongside Tim Cook. It's not Apple
We're scooping up shares of struggling company on a confidence-inducing signal from the board of directors that a bottom could be forming.
TL;DR
- Jim Cramer's Charitable Trust purchased 200 shares of Nike.
- Apple CEO Tim Cook and former Intel CEO Bob Swan, both Nike board members, made significant insider purchases of Nike stock.
- These insider buys are seen as a signal that the stock may be undervalued.
- Nike's recent earnings beat expectations in revenue and EPS, with strong North America recovery.
- Inventory in North America, Europe, the Middle East, and Africa is in a healthy state, suggesting future margin improvements.
- Fixing the China market is proving more complex than anticipated, requiring a strategic reset.
- Management is focused on improving the China business using a playbook similar to the successful North America turnaround.