Nike Stock Rises After Apple CEO Tim Cook Buys $3 Million Stake, Signaling Confidence in Turnaround Amid Tariffs and China Slowdown
Nike shares rose about 2% in premarket trading December 24 after an SEC filing showed Apple CEO Tim Cook bought 50,000 shares for nearly $3 million. Cook, Nike’s lead independent director, made the open-market purchase December 22 at an average price of $58.97. The move followed a post-earnings selloff and lifted sentiment despite ongoing concerns about Nike’s profitability and China sales.