With a YTD loss of more than 20%, Nike (NKE) is among the worst-performing constituents of the S&P 500 Index ($SPX) and Dow Jones Industrial Average Index ($DOWI). The stock closed in the red for three consecutive years and trades at just over one-third of its all-time high that it hit in November 2021. However, the stock rose over 2% yesterday after it announced a price hike and a partnership with Amazon (AMZN).
Is NKE stock a buy in light of these developments? We’ll discuss this in this article.
