Nike is a hold

Nike is currently the worst-performing Vestact-recommended stock. It's down 21.5% year-to-date and has halved since November 2021. What a stinker!

Nike did have a good Olympics, and hopefully that will juice sales for the rest of the year. Their "Winning Isn't for Everyone" advertising campaign had huge exposure globally. US viewership of the games in Paris was 77% higher than Tokyo.

Amazing performances by high-profile Nike athletes really helped. Standout stars who received lots of attention on social media were basketballers LeBron James and Kevin Durant, rugby player Ilona Mher, soccer star Sophia Smith (below), sprinter Sha'Carri Richardson, golfer Scottie Scheffler, tennis player Qinwen Zheng, and Botswanan sprinter Letsile Tebogo.

Shares of Nike are a hold. We are hardy investors, that take a long-term view.