The Long Investor

$NKE TOP 20

Added 2023-12-26 13:11:32 +0000 UTC

We waiting patiently for $NKE's pull back and it arrived with a bang!
Although their earnings were a beat, they lowered their guidance for next quarter and said to expect a 1% growth for 2024.

The market took advantage of this, that being said, the pull back was due and we were waiting for it.

5 hours later after reporting their earnings, they announced cost cutting plans and will lower their employee numbers.

This will directly improve on their margins.

Although $SKX, $LULU and $ONON are looking bullish, there will always be room for $NKE and their response was typical, they will be ready for the fight and I believe this pull back should be seen as an opportunity.