1 Stock Down 48%: Is It a Forever Stock to Buy on the Dip?
The S 500 has been on a terrific run and currently sits near its all-time high. However, not all businesses have benefited from the rising stock market. One example is (NYSE: NKE). Since this leading apparel and footwear stock reached a peak price in late 2021, it has cratered, losing 48% of its value.
Value-oriented investors might have their eyes on this industry-leading company. Is Nike a forever stock to buy on the dip right now?
Nike has been around for about 60 years, and its success over such a long stretch of time could put it in the category of being a forever stock. In the past 20 years, the business has produced a total return of 1,240%. That's more than double the total return of the S 500 during the same time.
Source Fool.com
Nike Inc. B Stock
€69.59
-0.670%
Currently there is a rather positive sentiment for Nike Inc. B with 71 Buy predictions and 7 Sell predictions.
As a result the target price of 108 € shows a very positive potential of 55.19% compared to the current price of 69.59 € for Nike Inc. B.
