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Nike shares are up after Apple CEO Tim Cook buys $3 million in stock

ResidentialBusiness
in What's on Your Mind?

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Nike shares ticked up 2% in premarket trading on Wednesday after Apple CEO Tim Cook bought nearly $3 million worth of the sportswear maker’s stock.

Cook, who has served on Nike’s board since 2005 and is its lead independent director, bought 50,000 shares at $58.97 each, according to a regulatory filing published on Tuesday.

Nike shares were trading at $58.49 on Wednesday.

The purchase comes just days after Nike reported weaker quarterly margins and sluggish sales in China. Its shares have slumped nearly 13% since it reported results on December 18.

Cook now holds about 105,000 shares in Nike, as of December 22, the filing showed.

—Aishwarya Venugopal, Reuters

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https://residentialbusiness.com/income/topic/27791-nike-shares-are-up-after-apple-ceo-tim-cook-buys-3-million-in-stock/
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