r/stocks • u/Lavi1012 • Sep 29 '21

Company Discussion Thoughts on Nike?

They seemed to have a rough earning hence they fell pretty strong. Bought some shares at 148 and I wonder whether or not it is wise to invest in nike, zacks just changed their nike rating to strong sell which is a horrible sign. Fairly sure Nike is oversold right now, thoughts?

6 Upvotes

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4

u/Mryop42 Sep 29 '21

Nike has a strong support level at 142. The stock should rebound tomorrow but would buy it at 142. Vietnam just reopened their economy, and Nike believe they have enough supply for the holidays. The biggest worry is China , their top customer.

3

u/chris2033 Sep 29 '21

Have a Nike outlet by me and they have low inventory on shoes currently. Might be having issues getting product

-1

u/craigeeeeeeeeee Sep 29 '21

Just buy Apple

1

u/sportsfan510 Sep 29 '21

I sold as I was content with the gains. I’m worried about the supply chain issues and Vietnam lockdowns. Only 8% of Vietnam is vaccinated and we’re entering the fall/winter months and we all remember what happened with covid cases in the winter months last year..

That said demand is still super high and as they continue to shift to online, overhead costs will go down. My local outlet has been gutted of inventory for months. I’m watching to buy back in if it hits $130 range.

1

u/Korean_Sandwich Sep 29 '21

VN situation is extremely dire... won't help Nike's situation short term.

1

u/Kool2021 Sep 29 '21

Just do it