
Jim Cramer -- Why Are Investors Beating Nike Down?
Shares of Nike (NKE) - Get Report are up over 2% Monday after positive commentary from the analysts at Piper Jaffray.
"It's still expensive, no doubt about it," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment about the price of Nike shares.
But that doesn't mean the roughly 20% decline from the stock's highs has been deserved. "I just think this stock has really been beaten down," Cramer said, adding that perhaps the stock will start to "wake up" following Sunday's National Basketball Association championship series, which drew the highest ratings since 1993.
"This stock has been under pressure for a very long time," he said. Nike and Under Armour (UA) - Get Report have both spent their time "in purgatory," and sentiment has simply gotten too negative.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.










