Is Nike Stock a No-Brainer Buy for 2024?

Nike (NKE -0.79%) was among the worst performers on the Dow Jones Industrial Average in 2023. Shares of the footwear and sports apparel giant declined 8% while the wider market jumped 14%. Missing that rally added to a tough period for Nike's stock, which has underperformed the market over the past five years.Will 2024 be much better? Nike is entering the year with a rock-bottom stock valuation, after all. There are a few encouraging operating trends lifting the business, too, including slim inventory holdi ...