In the latest trading session, Nike (NKE) closed at $125.73, marking a -1.47% move from the previous day.
Fears around slowing sales and a potential recession helped to push Nike (NYSE: NKE) stock down roughly 14% in the year ended in mid-January. Nike's report for the second quarter of fiscal 2023 (ended Nov. 30, 2022) showed strong – and accelerating – sales trends. Nike also achieved a significant sequential step-up, as revenue gains were just 10% in the first quarter of the 2023 fiscal year.
Investors will want to focus on durable businesses that have a long history of success and a bright outlook.