The stock price of Nike Inc (NKE) has fallen by over 1.34% today till the late morning trading session. Since the open on last Tuesday, the stock price of Nike has gone down by over 7.5%. The stock closed at $65.89 on Friday.
The Oregon based company is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. It is one of the world’s largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $19 billion, making it the most valuable brand among sports businesses.
The latest collaboration from Nike and the legendary Japanese label Undercover, and a brand-new silhouette from Demna Gvasalia and Balenciaga have built up a lot of hype around it.
The ongoing partnership between Nike and Undercover, the label helmed by Japanese designer Jun Takahashi, is known as Gyakusou. The teams turn out seasonal collections of running goods with a little bit of fashion edge, mostly inspired by Takahashi’s love of the sport. His latest sneaker offering with the Swoosh leans into the trail-runner vibe that has been slowly gaining momentum over the past couple of months, with brands like Solomon and ROA rising in hype.
The slightly clunky and neon-adorned upper definitely feels like it’s from an earlier era, but looks right at home on top of Nike’s new spongy React sole. Three colorways were sent down the runway: a bluish gray with fluorescent yellow accents, a mostly fluorescent yellow with cardinal red details, and more neutral olive green with burnt orange shoelaces and a white outsole. In every case, this was the result: a sneaker that would look just as cool on a marathon runner as it would on a street-style god.
Similarly, Balenciaga’s newest sneaker taps into the trail-runner trend. Between the chunky sole and multi-paneled upper, it looks more like a vintage pair of trekking shoes than a “designer” fashion sneaker—though, in today’s climate, it’s practically impossible to tell the difference. Which, we guess, is the point. And the new silhouette will turn some heads with its attention-grabbing colorways: neon orange and royal blue, fluorescent yellow and slate gray, and a more low-key white and orange. The shoe may seem toned down when stacked next to the Triple S (what shoe wouldn’t?), but make no mistake: This is still a bold statement sneaker that could have sprung only from the gloriously nutty mind of Demna Gvasalia.
Our analysts have given a “BUY” rating to Nike’s stock. After the slight fall this week, the current situation looks optimistic. The prices are bound to bounce back up and it is a great opportunity to buy some at this price. The current holders of this stock are advised not to sell it yet.