Shares of Nike (NYSE: NKE) were gaining last month as the sportswear giant benefited from good news out of China, and a cooler-than-expected inflation report gave it a boost as well. The stock had gotten slammed in its most recent earnings report back in September as its earnings fell due to excess inventory, but the improving economic outlook in the U.S. and the relaxation of China's Zero COVID-19 policy should help its recovery. According to S&P Global Market Intelligence, the stock finished the month up 18%.
Nike is tops in apparel, but other companies are showing real promise, especially under challenging circumstances.
Recently, Zacks.com users have been paying close attention to Nike (NKE). This makes it worthwhile to examine what the stock has in store.