Nike Shares Rise as Apple CEO Tim Cook Invests
Nike (NKE) stock experienced an upsurge on Wednesday’s shortened trading session. This boost follows reports revealing that Apple CEO Tim Cook has invested in the iconic sportswear brand.
Nike Stock Surge Linked to Tim Cook’s Investment
Tim Cook disclosed the acquisition of roughly $3 million in Nike shares. The purchase was made on December 22, when Cook bought 50,000 class B shares priced at $58.97 each. This acquisition amounts to approximately $2.95 million.
Key Details of the Acquisition
- Investor: Tim Cook, CEO of Apple
- Stock Purchased: Nike (NKE)
- Number of Shares: 50,000 class B shares
- Purchase Price: $58.97 per share
- Total Investment: Approximately $2.95 million
- Date of Purchase: December 22
Cook holds significant positions within Nike beyond being a shareholder. He serves as the lead independent director and chairs the board’s compensation committee, highlighting his influential role within the company.
Market Reaction
The stock’s rise during this abbreviated trading day underscores the potential for positive investor sentiment driven by high-profile endorsements. Cook’s investment in Nike signals confidence in the brand’s market position and future growth prospects.
The market will likely continue to monitor how this endorsement affects Nike’s stock performance in the coming days.
