Nike, Inc. (NKE) shares rose 4.86%, closing at $60.13, up $2.78, after news that Nike director and Apple CEO Tim Cook purchased approximately $2.95 million worth of Nike stock.
The stock opened near $57.50, reached an intraday high of about $60.80, and saw a low near $57.30, compared with a previous close of $57.35. NKE trades on the NYSE.
Tim Cook, who serves on Nike's board, acquired shares in the open market, increasing his stake and underscoring confidence in Nike's strategy and long-term potential.
Trading volume was elevated, reflecting investor interest following the insider purchase news. NKE's 52-week range recently spanned from lower levels earlier in the year toward the mid-$60s, with shares gaining support from the insider activity.
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