Was Jim Cramer Right About These 23 Stocks?

13. Nike, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 73

Cramer was cautious on Nike Inc. (NYSE:NKE) at the time due to near-term headwinds, saying:

“I think that Nike’s got to try to bottom here before I’ll recommend it, maybe at $90. It’s got a great brand name but the next quarter is going to be weak too.”

Cramer’s pessimism was justified, with Nike Inc. (NYSE:NKE) falling by 23.65% since that comment.

During the latest episode of Mad Money on the 14^th of March, Cramer assured his viewers that he remains optimistic about Nike’s comeback:

“Then there’s Nike, which needs to officially say that it’s back on track and ready to grow again. If management does, that $71 stock will see $80 very quickly. I regard Nike as a coiled spring, minimal downside, certainly worth doing.”