Down 55%, This Blue Chip Stock Is a Good Buy for Long-Term Investors

New leadership and a refocus on its core strengths should help Nike in this transition period.Nike (NKE 0.06%) checks the boxes for being a blue chip stock. It's been an industry leader for quite some time, it's financially stable, and it has a global brand many companies could only dream of matching. Unfortunately, being a blue chip stock doesn't make you immune from down periods, and that's exactly what Nike has gone through these past few years.Since hitting an all-time high in Nov. 2021, Nike stock is n ...