NIKE, Inc. (NYSE:NKE) is among the actions Jim Cramer reviewed while discussing the Iran ceasefire that sparked a relief rally. One caller asked if it was time to buy stocks, stating that “all the bad news is already baked in.” Cramer responded:
No, okay, look, I own Nike for my Charitable Trust. It has been one of my biggest mistakes. I always talk about my mistakes because otherwise you can’t learn. I became too optimistic. I felt there could be a change because the company was very poorly managed before and I think Elliott Hill is doing a good job. But change is not happening fast enough. And no, 32% less, but I don’t think we’re done yet. No, no, let’s put it this way, I don’t see any signs. When we have some signs, we will make a decision. Right now I’m just saying I made a mistake, Nike.
Photo by AlphaTradeZone
NIKE, Inc. (NYSE:NKE) is a sports and casual footwear, apparel, equipment and accessories company that sells its products under brand names including Nike, Jordan and Converse.
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