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Published on 31 May 2024 on Insider Monkey via Yahoo Finance

Below Expected Guidance Dragged NIKE (NKE) in Q1


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RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. During the first quarter, the markets performed strongly. The Russell 1000 Growth Index (RLG) and the S&P 500 index returned 11.41% and 10.56%, respectively during the quarter and RPX returned 9.20%. The monthly inflation readings in the first quarter exceeded market expectations. A couple of megatrends that drove the markets higher were GLP-1 weight loss drugs and everything related to artificial intelligence (AI). In addition, please check the fund’s top five holdings to know its best picks in 2024.

RiverPark Large Growth Fund highlighted stocks like NIKE, Inc. (NYSE:NKE), in the first quarter 2024 investor letter. NIKE, Inc. (NYSE:NKE) designs, develops, and markets athletic footwear, apparel, equipment, and accessories. The one-month return NIKE, Inc. (NYSE:NKE) was 1.41%, and its shares lost 13.30% of their value over the last 52 weeks. On May 30, 2024, NIKE, Inc. (NYSE:NKE) stock closed at $93.45 per share with a market capitalization of $141.05 billion.

NYSE.NKE price evolution

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