Fast Money Blog- 9/25/2020
Good News!
Nike, Inc. (NKE) is back as a Wealthy Investor long-term hold and short-term trade.
The company reported Q1 2020 top-line revenue of $10.5 billion, a notable improvement from the previous quarter.
Nike’s efforts to sell more merchandise directly to consumers paid off big, as digital sales grew 82% compared with the same period last year. Although the company sold less clothing and equipment year over year, footware sales rose by 4 %.
Again, Nike is a great trade and long-term investment.
More Good News!
On Thursday, September 24th, Costo Wholesale Corporation (COST) announced earnings for the quarter ending on Aug. 30th. The company reported revenue of $52.2 billion, up 10.1% on a year-over-year basis.
Costco is a great date for the members of the Wealthy Investor program.
In this market you must be patient. I expect there to be more positive earning results announced within the next 30 days.
Tyrone Jackson, The Wealthy Investor
