In With the New: Is Nike Stock a Buy After CEO Change?
Nike has grown concerned enough that it ousted CEO John Donahoe to bring back former executive Elliott Hill to lead the company's turnaround.The stock bounced on the news, but remains 50% below its former high and a severe laggard to the broader stock market. Should investors buy the turnaround? Or are Nike's best days behind it?
The company is postponing its investor day, scheduled for November, as it is in the midst of a CEO transition.
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