“It’s Time To Buy” NIKE, Inc. (NKE), Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Talked About President Trump & Trillionaires. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.

After discussing tech stocks for a while, Cramer shifted tack and turned his attention to NIKE, Inc. (NYSE:NKE). These comments are important since the CNBC TV host has previously been cautious about the firm. NIKE, Inc. (NYSE:NKE)’s shares are down 0.9% year-to-date, and Cramer believes it’s time to buy:

“I’m going to make a bold call here. I have not really cared for the stock of Nike for a very long time. That’s over. I think. . .it’s time to buy Nike. Cowen agrees with me. The key thing with Nike has been the inventories. Are they low enough? I think you have to anticipate now the bottom. I think the Foot Locker deal is good, with DICK’S. . . .David, there’s a man and his name is Elliott Hill. And Elliott Hill understands the tradition. He came back after being retired. He didn’t have to do this

. He understands the tradition of Nike. He understands. . .everything about Nike. And I’ve got to tell you, enough with the Shoe Dog. Everyone’s read Shoe Dog, Shoe Dog.

“But David, he’s real. He’s bringing back the magic. There is magic there, maybe China turns last. He is just a sensational guy. I mean bring tears to your eyes how much he remembers, the real, the Jordan’s, how to do things.

“[after Faber commented that this is a turn for Cramer when it came to Nike] Yeah, I’ve been very negative for years. For years. I’ve been negative. And I am telling you right now, I mean I’m trying to figure out how much do I want this for my charitable trust? I think Elliott, oh no, Elliott is so for real, I’ll tell you, it brings tears to your eyes how great he his. It’s like the old days.

“[on whether he would start crying about Nike] Yes I would be that emotional. Yes I would be that emotional, absolutely.”

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Disclosure: None. This article is originally published at Insider Monkey.