Nike Stock: Can We Trust This Breakout?

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Nike was one of the retail sector's hottest performers until it became one of the worst. What happened? It caught a case of COVID but it’s getting better now. A refocus on DTC, direct-to-consumer, and digital sales has the top and the bottom lines moving in the right direction and getting the attention of the analysts. The takeaway from Nike’s FQ2 report, however, is that inventory clearing actions are not only working but are not cutting into results as feared. Strength in the core shoe business is offsetting weakness in other areas and is expected to continue doing so in calendar 2023. Now, with the stock swooshing higher, it looks like a major melt-up is in the works.Read These 4 Shoemakers Have More Kick Than Allbirds

Stocks Mentioned in This Episode

Company	MarketRank™	Current Price	Dividend Yield	P/E Ratio
NKE NIKE	4.843 of 5 stars	$91.99 +3.4%	1.61%	27.06

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Thomas Hughes, Guest

MarketBeat Contributor, MarketBeat

Thomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.

Laycee Kluin, Host

Digital Marketing Strategist, MarketBeat

As MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.

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