Apple (AAPL) Chief Executive Officer (CEO) Tim Cook bought nearly $3 million U.S. of Nike
(NKE) stock after the sneaker maker’s recent disappointing financial results.
Cook, who has been a board member at Nike since 2005, bought 50,000 shares of the athletic apparel maker’s stock on Dec. 22 at an average price of $58.97 U.S.
A regulatory filing with the U.S. Securities and Exchange Commission shows that Cook now holds 105,000 shares of Nike worth $6 million U.S.
Cook’s latest purchase comes with Nike’s stock down 22% this year and trading below where it was 10 years ago.
NKE stock fell more than 10% immediately after the company’s latest financial results showed the sneaker giant continues to struggle in the key markets of China and the U.S.
Nike’s share price is currently at $57.34 U.S.
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