🏊 Tim Cook bought $3 million worth of Nike shares

📰 The Apple CEO purchased a stake of 50,000 shares in the sportswear brand. Cook has been a member of Nike’s board of directors since 2005.

📈 The deal comes amid the company’s recent challenges and a drop in its stock price. The market reacted instantly to the show of support from the top executive, with shares jumping 5.1%.

💪 Investors interpreted the purchase as a signal that the stock has bottomed out and that the brand is poised for a recovery.

#finance @iPhone