Billionaire Investors Are Buying Nike. Should You Follow Them?

Nike stock is suddenly popular with the hedge fund set. Is it a buy?Nike (NKE 0.77%) is one of the best-performing consumer goods stocks of all time. Shares are up more than 46,000% since the company's 1980 initial public offering and would have turned a $1,000 investment into more than $767,120 during that time (with dividends reinvested). More recently, Nike's stock has struggled, and it's down more than 52% from its peak in mid-2021. Growth has slowed, even turning negative recently as the athletic shoe ...