$Nike(NKE)$
I dont think Nike is out of style, however the days of everyone buying high end sneakers is on pause for a while. 1,000+ dollar sneakers? How many of their sales were tied to covid lunacy versus regular shoe purchases? Any guesses? They were at 39 billion of sales prior to covid, and they are at 51 billion now. If you trim off a couple percent, you get to a sales forecast of 48 billion. I feel like the actuals in the coming year(s) will be worse unless they start pumping out tons of less expensive product that hurts their overall brand. There is a buying point for sure for this stock - probably need a little more air to drain out of it.
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