Let's face it, many of us have a really bad addiction to Nike.
No matter what they do, no matter how much they infuriate us with its limited releases, or how often we complain about the use of shoddy materials, or the high price points of many of its signature products, we keep coming back. We can't stay away. And it's all because of brand loyalty.
CNBC recently posted an article regarding stocks from big name companies, Nike included, and how the stock can continue to succeed despite price hikes. According to trader David Seaburg, with Nike being one of the most recognizable brands in the world, people are willing to "pay a lot more for its products." He went on to state that "[Nike] s able to make small changes to existing products and sell them for a higher price" and predicted its stock, which currently sits just shy of $125, could climb to $140.
If you're interested in the other companies that were mentioned in the article, make your way over to CNBC.
