Nike shares jump on Cook stake boost

Nike shares rose about 5.5% in morning trading after Apple CEO Tim Cook disclosed in a regulatory filing that he had doubled his personal stake in the sportswear company to roughly $6 million, a move investors treated as a vote of confidence in Nike’s leadership and turnaround plans. Cook, who serves on Nike’s board, purchased the additional shares on the open market, and the filing drew attention given his high profile and longstanding association with the brand.

The timing of Cook’s purchase is notable as Nike recently reported weaker quarterly margins and disappointing sales in China, and its shares have fallen sharply in the wake of the results. Since the earnings report, the stock has slumped nearly 13% and faces a streak of annual declines that could extend to a fourth consecutive year. Market reaction to Cook’s disclosure underscores how insider buying by a prominent corporate figure can influence investor sentiment even when fundamentals remain pressured.

Nike CEO Elliot Hill has been pursuing a strategy aimed at restoring growth—refocusing the company on core performance categories such as running and sport, rolling out new marketing and product initiatives, and slimming exposure to underperforming lifestyle labels. Hill has also worked to repair relationships with key wholesale partners, including Dick’s Sporting Goods, to ensure broader retail presence as competition intensifies. Investors have, however, grown concerned that these moves are squeezing margins; Nike’s profitability has been under strain for more than a year as the company reallocates resources to rebuild demand.

China, a crucial market for Nike, remains a particular weakness: efforts to regain traction there have thus far been uneven, contributing to the cautious tone around near-term growth prospects. Analysts note that while Cook’s additional investment may signal confidence in the long-term value of Nike’s brand and strategic direction, it does not alter the operational headwinds the company faces, including margin compression, competitive pressures and macroeconomic uncertainties in key markets.

Following the disclosure, traders and some analysts framed the purchase as a psychological boost that could help stabilize sentiment around the stock heading into forthcoming corporate updates and earnings cycles. Others stressed the purchase represents a small fraction of Nike’s market capitalization and cautioned against over-interpreting its impact on fundamentals.

Nike did not comment on the purchase beyond regulatory filings, and Apple made no further statement. Attention is likely to remain focused on whether Hill’s plan to prioritize performance innovation and retail partnerships can translate into stronger sales and margin recovery, and whether management can steady Nike’s course in China and other challenging markets.