L.A. Laker, Kobe Bryant

Ready to purchase some stock? Well we’ve got the scoop on a recent drop in Nike‘s stock. Per the WallStreet Journal, the shoe company fell on hard times during this past quarter’s earnings. In order to stay afloat, Nike has devised a plan that includes dropping their share price from $.92 cents to $.82 cent. This strategy will allow investors do get in while it’s hot and assist the athletic shoewear and garment company in maintaining the number one spot. With $19 billion dollars in revenue, Nike states that the frieght costs were the cause of the drop in their profits by 1.1 percent. Freight costs are high because of the astounding demand of their products. Bottomline, Nike is the head honcho when it comes to sneakers. Top athletes across the world hold endorsement deals (i.e. Lebron James, Kobe Bryant, Micheal Jordan, etc) which inturn causes a buying frenzy for fans who would die to have a pair of their customized sneakers. So this level of demand means that more products must be manufactured and shipped to countries around the world.

We haven’t seen shares this low in a while, especially from a reputable company that we know will turn a profit. So our suggestion for all of you who want to invest is…BUY, BUY, BUY!

Source: WSJ