Cook increases his stake in Nike, providing substantial support for Nike's plan to turn losses into profits
Apple (AAPL.US) CEO Tim Cook increased his holdings in Nike (NKE.US) by approximately $3 million, purchasing 50,000 shares at $58.97 per share, nearly doubling his stake, demonstrating confidence in the turnaround strategy set by Nike CEO Elliott Hill.
Since 2016, Cook has been the lead independent director of Nike, and as of December 22, he holds approximately 105,000 shares of Nike. Baird Equity Research analysts stated that this could be the largest stock purchase by a Nike director or senior executive in the open market in over a decade
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