Jim Cramer says don't sweat Nike's conservative guidance.
CNBC's Jim Cramer on Monday said investors should buy on the pullback in Nike coming off of its latest earnings report.
"Nike only pulled back on Friday because its stock had run up dramatically going into the quarter," the"Mad Money" host said."But the results were great. I'm telling you they were great. I'm betting the guidance was a classic example of UPOD , which means Nike is a buy tomorrow morning, right here." "While Nike's stock ran like a champion earlier this year, the rally happened on no real news," he said."The stock never should've been down so much in the fourth quarter, so it kept levitating and levitating and levitating, as analyst after analyst upgraded Nike ... just aggressively pushing the stock."
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