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NIKE, Inc. Message Board

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  • misterbjenkins misterbjenkins Mar 13, 2012 9:46 AM Flag

    NKE DOWNGRADED to SELL this morning

    Here's the 'take home message':

    Nike got downgraded, and there was also a sell off after Friday's big gain as peope were profit-taking, AND there was negative news as Nike's beer-themed shoes offended folks overseas, and all of this caused Nike's stock to fall a whopping 53 cents below the previous close.

    At first I thought that since the price drop was so minimal, it must be attributed to the sell off - and that the downgrade (and 'beer-themed shoe news') did not affect the stock at all.

    However, when you look at the stock chart, the stock collapsed and recovered by the end of the day, so I think the downward pressure came not from longs closing their positions, but from shorts opening theirs. They wanted to jump on the negative news and see where it went, and when it looked like it wasn't going anywhere, they made sure to close out their positions by the end of the day, so they were out before the upward momentum started up again.

    Let's see where this stock goes today.

53.25-2.09(-3.78%)Sep 28 4:00 PMEDT