Foreign Media: Nike's stock rose 5% in the morning trading on December 24, due to Apple CEO Tim Cook doubling his personal holding in Nike, indicating confidence in Nike CEO Elliott Hill's reform efforts.
Cook purchased 50,000 shares of Nike at a price of $58.97 per share. As of December 22, he held approximately 105,000 shares of Nike, valued at nearly $6 million. This is the largest public market stock purchase by a Nike director or executive in years.
Despite Nike's recent challenges such as declining profit margins and weak sales in the Chinese market, Cook's increase in holdings is seen as a positive endorsement of the company's reform direction.
Original article: toutiao.com/article/1852404987807756/
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