Cook’s largest-ever open-market buy in Nike boosts investor confidence in CEO Elliott Hill’s turnaround strategy. Shares of Nike jumped nearly 5% on Wednesday after a regulatory filing revealed that Apple CEO Tim Cook had significantly increased his personal stake in the sportswear giant—an endorsement that investors quickly interpreted as a vote of confidence in the company’s recovery plan. According to the filing released Tuesday, Cook purchased 50,000 shares at $58.97 each, investing roughly $3 million and nearly doubling his holdings in Nike. As of Dec. 22, Cook now owns approximately 105,000 shares, valued at close to $6 million. The market … Continue reading Nike Shares Surge After Apple CEO Tim Cook Doubles Down with $3 Million Stock Purchase