Jim Cramer on NIKE: “It’s Been One of My Bigger Mistakes”

NIKE, Inc. (NYSE:NKE) is among the stocks Jim Cramer reviewed while discussing the Iran ceasefire that triggered a relief rally. A caller asked whether it was time to buy the stock and posited that “all the bad news is already baked in.” Cramer replied:

No, okay, look, I own Nike for my Charitable Trust. It’s been one of my bigger mistakes. I always talk about my mistakes because otherwise, you can’t learn. I got too bullish. I felt that there could be a turn because the company was so poorly run previously, and that I think that Elliott Hill’s doing a good job. But it’s, the turnaround’s not happening fast enough. And no, down 32%, but I don’t think we’re done yet. I don’t, I’m not, let’s put it this way, I’m not seeing any signs. When we get some signs, then we will make a decision. Right now, I’m just saying I made a mistake, Nike.

Photo by AlphaTradeZone

NIKE, Inc. (NYSE:NKE) is an athletic and casual footwear, apparel, equipment, and accessories company that sells its products under brands, including Nike, Jordan, and Converse.

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