Nike were overvalued after 2021. They had a downturn in sales during covid, followed by a spike as people exercised more etc.
I wouldnt take the share price trajectory from 2021 to now as indicative of the future.
Yes, their sales are fairly stagnant at the moment. But top and bottom lines are way better than 2019 and share price is roughly the same.
There are likely better investments out there but in its own right, Iām happy putting money into Nike at the moment.
(None of that is advice. Do your own research)