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.
While we acknowledge the potential of NKE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years
Disclosure: None. Follow Insider Monkey on Google News.
