Sneaker Market Is On Fire

I read an analyst report yesterday which described the athletic equipment business as being "on fire right now". In other words, sporting gear is selling well. More than ever, people need to get outdoors and get some exercise.

This is great for Nike of course. We own lots of those. Other stocks in the same sector like Adidas and Lululemon Athletica have also done well.

According to research firm Piper Sandler, the collectable sneaker resale market is now worth an estimated $10 billion. Bright has written extensively about that market.

Sneaker resale platform StockX's valuation jumped to $3.8 billion in its financing round last month, up 35% from four months prior. Their top sellers are coveted limited editions, like retro Nike Jordans or Adidas Yeezys.

Nike limited editions are sold via a lottery process on its SNKRS app. The lucky buyers resell them on StockX. Sounds like fun!