Nike shares increased by 2% in premarket trading on Wednesday following Apple CEO Tim Cook’s purchase of nearly $3 million worth of Nike stock.
As per a regulatory filing published on Tuesday, Cook, a member of Nike’s board since 2005 and its lead independent director, bought 50,000 shares.
The SEC filing shows that Cook’s purchase was carried out as an open-market transaction, with the reported price indicating a weighted average. The Form 4 states that the shares were acquired through several transactions within a narrow range of $58.96 to $58.97.
Cook’s purchase happened just days after Nike reported lower quarterly margins and sluggish sales. This sparked new worries about profitability, tariffs, and the speed of a global recovery, particularly in China. As a result, Nike’s shares have dropped nearly 13% since the December 18 earnings report.
Nike said fiscal 2026 second-quarter revenues were $12.4 billion, up 1% year over year, while gross margin declined 300 basis points to 40.6% and diluted earnings per share were $0.53.
As of December 22, Cook owns approximately 105,000 shares in Nike, according to the filing.
Today, Nike shares were traded at $58.49.
By CEO NA Editorial Staff
