– For

NKE

longs, they gotta feel 10-15% more downside for potential bottom. $63 is the 200 SMA on monthly scale where it could potentially bottom.

– Ideally,

NKE

has been losing market share to

ONON

, deckers etc. On top of that there’s zero innovation in the shoes and design. Premium price for Nike seems unjustified.

– Fair value based on multiple compression seems to be around $78-85. Therefore, buying it in 70s isn’t worth holding. I believe parking money here is like betting on dead horse as of now.

– Turn around in brick and mortar business takes long time and patience as compared to SAAS business where one could see positive turn around within 1-2 quarters.

– CEO is a veteran which is a plus but investors should be cautiously optimistic.

– Buying around $58-63 provides good upside adjusted for slow rate of pace of growth and competition fears.

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