Dec. 28 at 9:06 AM
$NKE Nike (NKE) has been swooshing higher this week following news late on Tuesday that Tim Cook (Apple CEO and Nike director) bought 50,000 shares, worth
$2.95 mln.Also, a director purchased of 8,691 shares worth approximately
$500K.RECALL that Nike gapped down on earnings last week, these purchases were made after the gap down, they clearly see some value down here.While insider buying does not eliminate the company's near-term execution challenges, it often serves as a meaningful vote of confidence in longer-term value, particularly when purchases are made following a significant pullback.At a minimum, the activity suggests they believe much of the bad news is now reflected in the stock.