Investing.com – Shares of Nike Inc. (NYSE:NKE) rose more than 2% in pre-market trading on Wednesday, following a regulatory filing showing that Tim Cook, CEO of Apple (NASDAQ:AAPL) and member of the board of directors of Nikebought 50,000 Class B shares of Nike. The shares were purchased at an average price of $58.97 per share, totaling approximately $2.9 million.
Cook has been a member of Nike’s board of directors since 2005 and now owns just over 105,000 shares of Nike stock.
The filing was made public on Dec. 23, and shares reacted immediately in after-hours trading, reversing some of the recent weakness tied to slower demand in certain markets and recent earnings performance.
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