Nike shares rose Monday after Guggenheim named the sneaker retailer its 'best idea' for 2022.
A Guggenheim analyst said Nike's already dominant market share should continue to grow as it keeps scaling online and innovates with new footwear and apparel products in the new year.
Near term, Nike has been hurt by global supply chain disruptions, he said, but the company should still be able to hit the financial targets it laid out last June. Guggenheim also said it will be watching Nike's engagement in the metaverse closely in 2022. The retailer bought virtual sneaker company RTFKT for an undisclosed amount in December.Joe Raedle | Getty Imagesshares rose about 1% in extended trading on Monday after Guggenheim named the retailer its "best idea" for 2022.
Analyst Robert Drbul said in a note to clients that Nike's already dominant market share should continue to grow as it keeps scaling online and innovates with new footwear and apparel products in the new year. Near term, Nike has been hurt by global supply chain disruptions, he said, but the company should still be able to hit the
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