it's manipulated. This was an awful, awful, report spun postive. Nike doesn;t need china all of a sudden? Really? The reason the stock even got this high to begin with was on the idea that Nike would grow phenomenally in China. FAIL. Stock will be maniulated upwards for the next 2-3 months, but will be below 70 by years end. Too much cometetion, declining profits, margin compression, trading at 22 p/e which is more than triple actual overall revenue growth rate.
atience and dollar cost averaging works like a charm for these type of shorts as the maniulation can only last so long; but one never knows when it stops.