After a brutal 60% drawdown from its 2021 all-time highs, Nike Inc (NYSE: NKE) just reminded Wall Street why it's still a stock to watch. Shares were up nearly 10% in pre-market trading on Friday following Thursday evening's earnings report that came in much better than feared.
For investors wondering whether the long decline had further to run, this morning's price action suggests the answer is a very definitive "no."
