Nike's Stock Price Hits a Record High
The Swoosh’s shares are up 37% this year alone.
The Swoosh’s success continues. Nike’s stock price hit an all-time high yesterday after the sportswear giant reported numbers that greatly exceeded Wall Street’s expectations. Hitting $136 USD per share yesterday in after-hours trading, Nike’s shares are up 37% this year alone while future orders increased 20% in the second fiscal quarter (analysts only expected about a 14% increase). Sales are also up across the board with those in the United States alone accounting for $3.5 billion USD while those in China have skyrocketed with a 28% increase.
Nike is expected to hit $50 billion USD in annual sales by 2020.
