Investors who held stocks in the 2010s generally saw strong gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there’s no doubt that some big-name stocks have fared much better than others along the way.
Nike’s Great Decade
One of the decade’s top performers was a sportswear manufacturer Nike Inc. (NYSE: NKE).
Nike is one of the largest sportswear retailers in the world, and it was perfectly positioned to capitalize on the athleisure fashion trend of the past decade. Nike was also an early adopter of direct-to-consumer retail through its website. Nike direct to consumer sales skyrocketed from just $2.18 billion in 2009 to $11.75 billion in 2019.
Nike also made headlines in the 2010s. Nike became the Official NFL Apparel Supplier in 2012 and the Official NBA Apparel Supplier in 2015. It also made some controversial decisions, including an ad campaign focused on Colin Kaepernick in 2016 and his decision to leave the golf equipment business in 2016. .
Nike shares started the 2010s at around $16. By mid-2010, Nike had already hit its decade low, trading at $15.22. From then on it was a slow and steady climb for the next 10 years with few interruptions.
2020 and beyond
Nike hit the $50 mark in early 2015 and hit $100 just before the end of 2019. The stock hit a new all-time high of $105.62 in the first weeks of 2020, entering the new decade with extremely bullish momentum.
In fact, even after a sharp coronavirus-driven pullback to less than $70, $100 worth of Nike stock in 2010 was worth more than $414 today.
Looking ahead, analysts expect Nike to rebound at some point in 2020. The average price target among the 31 analysts covering the stock is $91, suggesting an upside of 33.7 % from current levels.
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