Apple CEO Tim Cook has recently bought nearly $3 million worth of Nike shares, and the move is drawing attention far beyond Wall Street. At a time when investors have been unsure about the future of the sportswear company, this move is seen as a strong message of confidence in the company. The purchase was disclosed in a regulatory filing and quickly became a talking point in global markets. Nike’s shares reacted positively, rising sharply after the news. For many investors, especially those tracking insider activity, such a buy is seen as more than a routine transaction. It signals belief from someone who knows the company from the inside and has seen many business cycles.
According to the reports, the filing shows that Cook bought 50,000 shares of Nike Class B stock on December 22. The average price of the stock is considered to be $58.97 per share. With the latest purchase, the total direct holding of Cook has risen to about 1,05,000 shares, which has also nearly doubled his personal stake in the company. Market experts noted that this appears to be the largest open market purchase by a Nike director or executive in more than ten years. After the filing became public, Nike’s stock closed about 4.6% higher, showing how closely investors track insider confidence.
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Cook has been on Nike’s board since 2005 and is one of the company’s longest-serving directors. Over the years, he has also advised the company through major changes and leadership shifts. He is also the lead independent director of the company, which is a role that involves guiding strategy and governance. His decision to buy shares now comes as Nike works through one of the toughest phases in its recent history.
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Nike recently reported earnings that were better than expected, but the bigger picture remains challenging. The company warned of lower revenue growth in the coming months, pressure on profit margins, and weak demand in China. It is also dealing with higher costs linked to tariffs and efforts to clear excess inventory. New chief executive Elliott Hill is trying to revive demand by focusing on sports like running, refreshing marketing plans, and fixing relations with wholesalers such as large sports retail chains.
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Cook’s purchase has added to a broader insider buying trend. Another Nike board member, former Intel chief executive Robert Swan, also bought shares worth around $500,000 during the same period. For investors, such buying is often seen as a sign that insiders believe the worst may be over.