# Nike shares shot up 3% on the news, adding to a 3% gain from the prior session.

*business · news · 2026-04-18 · HotNewHipHop*

## Key points

- Nike CEO Elliott Hill and Apple CEO Tim Cook both purchased over $2 million in Nike stock.
- Both insider stock purchases occurred within days of each other, signaling coordinated confidence.
- Nike reported flat revenue and a 35% drop in net income in its recent quarter.
- The insider buys follow ongoing challenges for Nike, including tariffs and weak China sales.

**Companies:** Nike
**Countries:** United States

[Read the full story on HotNewHipHop](https://www.hotnewhiphop.com/990380-tim-cook-buys-more-nike-stock-sneaker-news)

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