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Nike shares rally following a notable insider stock purchase
Nike stock rose after Tim Cook disclosed buying 50,000 shares worth about $2.
Nike shares climbed in early trading after a regulatory filing disclosed that Tim Cook, Apple’s CEO and lead independent director of Nike, bought 50,000 Nike Class B shares at an average price of about $58.97. The purchase, valued at roughly $2.95 million, occurred amid broader market activity and was followed by a rally in Nike stock.