The stock fell about 10% after hours. Nike shares were up 4.7% so far this year through Thursday’s close, lagging far behind the S&P 500′s gains for the year.
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So tell me why to not buy this stock I Thought that this would be a pretty interesting topic. uh, to kind of I would say more of a theme to talk about. uh, on specific companies that recently reported earnings that sell off and that we in the comment section share. Maybe why it's not the best investment and the reason why is that this isn't like a BS company.
It's not a lower cap stock. It's Nike Nike drops more than 10% today 11.59% Um, including aftermarket hour hours due to its quarterly earning report. So you guys can see this reaction that we're seeing a lot of selling pressure. You might be asking the question or why Ricky Right It reported better than expected earnings per share for the previous quarter.
It reported better than expected revenue for the previous quarter. I've said this once and I'll say it again. It's not so much even about its previous quarter, but also its guidance for upand cominging quarters That is often viewed to be most important. So why did it sell off? Nike Said that it plans to cut $2 billion in cost over the next 3 years.
Nike Giant also says that it's going to cut its Revenue Outlook This is the second company to do so for this up and cominging year. FedEx was the first company. Now it's Nike Are they telling us something Something that we don't know? Something that the Market's not factoring in, Something that can actually create some selling pressure later down the road for overall markets and again, Uh, Nike fell short of Wall Street Sales estimates for the second quarter in a row. So that's essentially why Nike stock ended up selling off I Wanted you guys just to be aware I think as long as you're informed Nike is obviously a company that a lot of people respect.
It's not. you know, a company that I feel like is going to catch people by surprise of maybe why you might want to buy into the dip but the idea is I Thought we can create a theme where we share why in our opinions Nike is either a good stock to buy the dip on or maybe to avoid. If maybe this news is too new, it's too relevant. Things can get worse before they get better.
share them down in the comment section. but I feel like talking about oversold companies that just recently reported earnings can be something that might be quite unique, especially if we keep it focused on good quality companies over a long period of time that just might have overreacted. So again, right now, it's trading at lows of 108, which means that we've pulled on back quite a bit. Um, we can see right on over here it closed at 122, but that means at 108 we're going to be trading um, halfway down to its previous support that had right around $990 to $80 a share.
So again, the question that I would begin to be asking is is this an overreaction or is just this the beginning of some selling pressure that can later bring us down to $97 or $80 a share where we can really load up if it ends up finding its support level. We talk about three stages of reversal when it comes down to buying the dip within the Lpp lesson: Library If you want to check that out, that's the second link in the description down below. But I Just wanted to make sure that we talked about a good quality company that is oversold that might have overreacted due to poor guidance but good earnings and again that is ticker symbol NK So you guys let me know down in the comments section what you think about Nike Stock yourself: Would it be something that you would buy right now you would add to your watch list because you like that it dropped 11% because you know you see it to be a good deal. but maybe you need to wait for confirmation or completely avoid Nike stock that it's not a good stock to even buy now or later down the road? Let me know down below: I To make more videos like this all I ask you to do is drop a thumbs up. Subscribe to the channel and I'll make sure that I Um, you know, keep you guys up to date with the overall. Market If you guys have any questions, please shoot me a direct message via Discord And don't forget I Trade Live every Single Morning! If you want to watch me Trade Live as soon as tomorrow, click that second link in the description down below and I'll see you tomorrow at Market Open for our live trading session. We'll see you then.
Nike was oversold, on the monthly chart it is back in a consolidating pattern, with signs that it could drop down to mid-high 90's before the market decides whether to have it recover or break down further
i thought it was bc of china and tiwan news
Great input both in the video & comments! Learning!!
I do not buy any stock that has anything to do with China. Never. Why I don't own Starbucks AND Tesla. I'm not giving China any of my money. They get enough of my money as it is. They don't play by the same rules as we do. They could change shit over night. And why should I buy China. When I can by Americans. Hell. Buy Rocket Lab. I don't even wear Nike. I buy what I use. I always said as a investor. Instead of buying Nike Shoes. Buy the stock. But I personally won't buy it with so much of their business is China. No thanks.
I guess it would be important to keep looking the way nikey moves, its hard to tell by this point because it can pull up quite quickly or even drop, I think waiting for that confirmation would be a great idea!
Go woke, go broke, Nike makes no exception.
Just curious, how much money have you made so far from your trading career?
Maybe wait for clearer indication of overall market reaction relating to big players lowering forecast.
Looking at the chart, anything ~10% up or down of $85 is a reasonable buy
I make money just doing opposite what this guy says…
Also if inventory is a big deal for Nike
Buffet is waiting for stocks to get cheaper…that’s what he is so good at, patience. The stock market is a tool for transferring wealth from the impatient to the patient.
I bought a lot of amc stock but now crashed how about this meme stock? Thank you for good explanation.
Nike is dying
For 2024, SKX looks to be the BUY over NKE.
Keep dropping the Breaking News, several times a day, I'll be watching! LIKED & SUBSCRIBED!👍
Thanks for the regular updates that go straight to the point. Next year is going to be worse. They keep talking about great year coming. Well interest rates are going to drop, so all these unprofitable companies are going to borrow money easily, then when earning rolls around, there will have nothing to show. So yea we will still continue rallying and making All time highs into 2030! People are struggling man. But banks are feeling good because they are going to continue pushing their credit cards and keeping people in debt. God help us here!
Nike is next on the go woke go broke list.
I would just start averaging in on a weekly basis like I did with Fed ex and target
open w chart RSI and the answer why not to buy is right there
inverse head and shoulders has played out. the drop is just a correction to technical analysis trading. gap is at 91. wait til 91 and redo analysis.
I bought FDX. I hope it won’t affect that much😅
market is in extreme greed. I would buy 5-10% and then wait, it could go lower when the market starts to sell off in the New Year.
buy the bounce
NKE consumer spending is weakening, there are to many companies cutting into market share. I would buy HSY, MAT, MARA, and NXT.✌️
I bought 115 puts, in front of earnings because the crowd that use to buy 100 dollar sneakers is broke and the future sales will suck…just saying
This reminds me of Disney and Walmart. Disney still hasn't recovered, and Walmart is high at 155 these days. I wouldnt unless its a long-term play
Go woke go broke ….. you be the judge of what you are willing to enter into business with!!! Go Bud! Disney about to crash yet again
Futures are red.
You are finally going to be right about a pullback… Maybe!
First 🎉
It can always go lower, wait until you see signs of a recovery