5 Stocks George Soros and Insiders Are Crazy About

2. Nike Inc (NYSE:NKE)

Soros Fund Management’s Stake: $25,700,690

Nike Inc (NYSE:NKE) ranks second in our list of the stocks George Soros and corporate insiders are buying. As of the end of the fourth quarter of 2023, George Soros’ fund had a $26 million stake in Nike Inc (NYSE:NKE). Bob Swan, a director at Nike Inc’s (NYSE:NKE) board, bought 13,072 shares of Nike Inc (NYSE:NKE) on October 2 at $96.13 per share. On that day the stock was trading at around $94.56. Nike Inc’s (NYSE:NKE) stock price has jumped about 6% since then.

Amalthea Fund stated the following regarding NIKE, Inc. (NYSE:NKE) in its fourth quarter 2023 investor letter:

“NIKE, Inc. (NYSE:NKE) of change of strategy: Fast forward a few years and Nike has had a change of strategy that was an Exocet to shoe industry retailers. Nike (who do not sell on Amazon) decided (accurately) that they had the hot product and wanted to drive sales through their own (mostly online) channels. They wanted to capture the retail margin.

Nike used to have 30,000 wholesale arrangements (retailers who sold their product). They cut this number sharply, down to 3000 and told people they were going to 1800. Small shoe retailers lost their core brand. Many failed…” (Click here to read the full text)