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News  ›  The Motley Fool

This Fund Sold $222 Million in Nike Stock — and Is Now Betting Against It

The Motley Fool Logo The Motley Fool By Jonathan Ponciano
This Fund Sold $222 Million in Nike Stock — and Is Now Betting Against It

Swiss bank Pictet sold nearly 3 million Nike shares worth $221.7 million in Q3, reducing its stake by over 90% and opening put positions, signaling bearish sentiment amid Nike's challenging financial performance.

Insights
NKE   negative

Stock down 15% in past year, 1% revenue growth, 31% net income drop, heavy discounting, and institutional investor selling off significant stake and betting against future performance