[Note: NKE’s fiscal year 2023 ended May 31, 2023]
Nike’s stock (NYSE: NKE), a company designing, developing, and marketing footwear, apparel, equipment, currently trades at $103 per share, around 42% below its level of $178 seen on November 7, 2021 (pre-inflation shock high), and has the potential for gains. NKE saw its stock trading at around $83 on October 2, 2022, when the Fed kept increasing rates, and now remains up by about 24% from those levels. The athleisure giant is grappling with supply chain constraints and a slower-than-expected recovery in China. Being a discretionary company, the company also faces headwinds given the current harsh macro environment. That said, the company has strong pricing power and has a huge competitive advantage due to its brand and the demand it has been able to build.
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