Jim Cramer on NIKE: “We Lost a Ton of Money in This”

NIKE, Inc. (NYSE:NKE) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday’s market rotation. Cramer highlighted selling the stock for the Charitable Trust. The Mad Money host commented:

Did the stock of Nike deserve to run 5% on a beat quarter, with no raise, no raise, and guidance for the next couple of quarters, thanks to a pressured consumer? Eh, maybe it’s down so much, it looks up to some. We’ve dumped the stock for the Charitable Trust, fully realizing it can rally a couple points, but then I expect it to stall out as there’s no earnings bump going forward. Alright, sobering. We lost a ton of money for the Trust on Nike. I always talk about the winners. We lost a ton of money in this. See, I was swayed by the big insider buying and the return of an old hand to the tiller. The problem is the company has so much global competition now that it’s just tough for them to get sustainable momentum.

Photo by Paul Steuber on Unsplash

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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