Nike shares soar on 82% jump in online sales

September 23, 2020 10:00


Shares in Nike soared around 13% higher in premarket trading as the company posted a whopping 82% increase in digital sales and a rise of 6% in sales in China. However, Nike's largest market, North America, posted a fall of 2% in overall sales.

Nonetheless, investors enjoyed the impressive report over the coronavirus pandemic period sending its stock price immediately higher. Did you know that you can speculate on the price direction of global shares such as Nike using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!

The bullish results are a strong reversal from Nike's previous quarterly results: which showed an unexpected loss due to the closure of many of its stores. While North American sales were down, they did beat analyst expectations. Overall, the company posted earnings per share of 95 cents against an expected 47 cents.

Nike also offered forward guidance - something many other companies are avoiding. Management expects demand to grow through the holiday season and expect sales to be in the high single digits for 2021.

How to trade Nike with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of Nike or other global shares, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in Nike, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

Source: Admiral Markets MetaTrader 5 Web, #NKE, Weekly - Data range: April 13, 2014, to September 23, 2020, performed on September 23, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.

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