Oversold shares of Nike (NYSE: NKE) are on the run.
All on news that CEO Elliott Hill bought 16,400 shares for about $1 million. This follows news that Apple’s Tim Cook bought $3 million worth of Nike stock. Cook, who has been on the NKE board since 2005, bought 50,000 shares at an average price of $58.97. Robert Swan, another Nike director, bought about $500,000 of stock on Dec. 22 at an average price of $57.54.
This post originally appeared at 24/7 Wall St.