Brian Earl Spilner said:
Speaking stocks I never got the hype for, are people still in NKE?
I'm trying to figure out what's going on with all the insider buys last month or two. There have been a lot. But the fact of the matter is on the surface Nike just does not seem super relevant to Gen Alpha, and even to some degree Gen Z now.
I'm a big eye ball guy. Does a store have a lot of cars parked outside? Is a restaurant doing well at peak dinner times? Do I see a lot of a certain infrastructure type company vehicles out and about (ie Flour or Schlumberger) .
Lately I've just been kinda eye-balling how much Nike I see out there. And the picture aint pretty. I was at Starbucks just yesterday doing some work and at 915 am it was packed with at least 40 patrons. How many were wearing Nikes? I literally looked at every patrons shoes (yes I know this seems weird but whatever) and you know how many Nike's I saw? ONE. Who was wearing it? ME. That's it. Everyone else in there was wearing HOKA, Brooks, NBs, Adidas, I even saw 2 Reebok and no Nike along with casual non sneaker shoes. But the only person wearing NIKE in the whole store was me. Even the retro Jordan's and stuff are starting to fade a bit. Sure they are still popular (I love em, I still wear several versions) but they aren't as cool to wear as they were say 3 years ago.
That said, the insider buying is interesting. Could it be they are trying to create some in house momentum for the stock price and financials? It's a lot of inside buying and while the inside buys themselves wont move the needle much the PR might? Idk.