Nike stock rises after RTFKT sale, but Needham downgrade warns turnaround could drag
Nike shares rose 1% to $65.92 Friday despite a downgrade from Needham, which cited slow turnaround and risks in China and Converse. Nike confirmed it sold digital unit RTFKT to an unnamed buyer. The stock was steady after hours. Traders are watching support near $64.70 ahead of key inflation and retail data next week.