Apple CEO Tim Cook Buys $3 Million in Nike Stock, Doubling Stake as Turnaround Pressure Mounts
Apple CEO Tim Cook bought 50,000 shares of Nike Class B stock for about $2.95 million on Dec. 22, nearly doubling his holdings, according to an SEC filing. The news, disclosed Dec. 24, sent Nike shares up 4.6% after a sharp decline following its earnings report. Cook is Nike’s lead independent director. Nike stock had fallen nearly 13% since Dec. 18 before the rebound.