Nike (NKE) shares soared 5.01% in after-hours trading on Tuesday, building on gains made during the regular trading session. The stock's impressive performance comes on the heels of Goldman Sachs maintaining its Buy rating on the sportswear giant, signaling continued confidence in the company's prospects.
During the regular trading hours, Nike's stock had already shown strength, rising 1.67% to close at $57.06. However, the after-hours surge suggests that investors continued to react positively to the Goldman Sachs rating and other market factors. The extended trading rally significantly outpaced the broader market's performance, with the S&P 500 Index rising 2.51% and the Dow Jones Industrial Average gaining 2.66% during the regular session.
Further bolstering Nike's stock was a notable buy-side order imbalance of 755,077 shares reported near the end of the trading day. This imbalance indicates strong buying interest and likely contributed to the stock's continued upward momentum after hours. Despite the day's gains, Nike still trades well below its 52-week high of $98.04, potentially offering room for further appreciation if positive sentiment persists.
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