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Demand for Nike`s newest products is partially driven by their perceived scarcity, and if Nike produces too many pairs of a new shoe, demand will plummet because the product is then widely available and is no longer limited in its availability. Nike`s grip on the market comes down to a simple supply and demand formula, Josh Luber, CEO of sneaker reselling site StockX previously told Jefferies. Going forward the company is also refining how it sells its products to customers, rethinking its e-commerce strategy by partnering with Amazon and reducing the number of retail partners from 30,000 to just 40, according to KGW. This represents an increase of over 11% compared to the low on October 13th and a year over year increase of almost 13%. On November 15th, Nike stock price closed at a price of $56.63. The current trend, however, is clearly pointing upwards.
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The stock remained at a high level for some weeks, but fell again sharply to bottom out at $51.07 on October 13th. This decline was followed by a rally resulting in a closing price of $60.14 on August 3rd. On June 14th, 2017, NIKE’s stock price was at $54.66 before falling sharply to $51.10 by the end of the trading day on June 16th. In 2017, the stock performed reasonably well. In November 2015 Nike announced it was increasing its dividend by 14%, and that its board had also approved a $12 billion share repurchase program and a two-for-one stock split. Nike`s stock has split two for one six times. The growth rate of 312% within a decade tells the outstanding performance of NIKE’s stock in the 21st century. Ten years later, on January 5th, 2015, Nike stock price reached $46.75. Since 2004, the company began increasing the dividend on an annual basis. If Nike stock was still traded at a price of $5.76 on January 2nd, 2003, it had nearly doubled its value by January 3rd, 2005, when its closing price was $11.34. Nevertheless, patience started to pay off for investors in the 2000s, when the success story of Nike stock price regained momentum. Nike hit a stock price of $5.11 on February 13th, 1998, which represented a decrease of 46% in only one year. During the next 12 months, Nike stock price went through a tough period. It was on February 13th, 1997, when Nike stock price reached its then peak of $9.47. In just one year’s time, the stock’s value had increased by 87%. By the end of 1994, the stock hit $2.33 and by December 1995, the stock had gone as high as $4.35. The stock continued to perform well into the 1990s. Nike stock price had increased by 511% in a decade. On December 3rd, 1990, Nike stock price closed at $1.10. Nike began paying a quarterly cash dividend in 1984. Nike stock price first reached the $1 mark on September 21st, 1989. On IPO day Nike stock price closed at $0.18 on the first day of trade. From 1972 to 1981, NIKE Inc.’s net income grew at a pace of almost 100% per year. For comparison, back in 1972 Nike’s annual revenue was $2 million. In 1981, its revenues reached almost $458 million. Leading up to the IPO Nike was growing fast.