Why Nike Stock Raced Higher Today
Nike (NYSE: NKE) has entered into a new business collaboration, and investors were glad to hear about it on Tuesday. Before market open that morning, Nike announced that it and privately held athletic wear company Skims are teaming up for an upcoming fitness brand, NikeSKIMS. With its characteristic hype, Nike said that NikeSKIMS goods will feature "best-in-class innovation in service of all women athletes... championing their confidence, strength, femininity, and competitiveness like never before."