Nike is currently intra day trading for below $40. It’s the best deal of the century. I am long 6,000 shares at $41. Will sell when it gets to $80 next year. I will buy a Porsche for the profits. $40 isn’t some random number either. It’s basically the 52-week low and has already acted as support multiple times. NKE traded right around $40 after earnings in June and bounced hard from there. Right now the stock is sitting below $40, but I’m not convinced there’s enough new information hitting the tape to justify a clean break through that level. The market already knows Nike has problems — China, weak growth, margins, the whole turnaround story. That stuff is priced in to a pretty significant degree after the stock got cut almost in half from its $80+ high. There’s also the fact that the company’s last earnings report wasn’t nearly as bad as the stock reaction would suggest. Nike beat on both revenue and EPS, with EPS coming in at $0.20 versus expectations around $0.11. And today we’ve got David Denton officially taking over as CFO, which at least gives the market another reason to focus on the turnaround rather than just the problems Nike has been dealing with. It will not close below 40 today believe me.   submitted by   /u/lies_are_comforting [link]   [comments]