Jim Cramer Talked About These 17 Stocks After The Fed’s Rate Cut

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4. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders In Q3 2024: 75

NIKE, Inc. (NYSE:NKE) is the embattled sports apparel retailer whose shares have lost 27.8% year-to-date. The firm has struggled on multiple fronts in 2024. These include a consumer spending slowdown in America that has hurt demand and Chinese economy uncertainty. NIKE, Inc. (NYSE:NKE)’s shares dropped by 20% in June after it guided a mid-single-digit revenue drop for Fiscal Year 2025 and surprised investors. The firm is currently embarking on a turnaround plan, which will take its sweet time to materialize according to new CEO Elliot Hill. Hill also believes that NIKE, Inc. (NYSE:NKE) has lost its place in the sports apparel market. Cramer agrees:

“Yeah, but you know people always want to get the jump on that thing, look I don’t think Nike’s anywhere near where it has to be. . .Jordan’s not selling. People don’t want to talk about that.”

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