Buy This Dip Immediately
Talk about timing…
Earlier today, Citi downgraded Nike (NYSE: NKE) to “Neutral” from “Buy,” saying it could face backlash about labor conditions in Xinjiang.
If that weren’t bad enough…
The estate of Kobe Bryant said it would not renew its deal with Nike, who produced almost 20 sneakers with Bryant.
This double whammy of bad news pushed Nike down to levels it hasn’t seen since last November.
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