If You Invested $1,000 In Nike (NKE) Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the last two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Nike's Bumpy Road: One company that has been a solid investment in the past two years is Nike Inc (NYSE: NKE).

Fortunately for Nike investors, the company’s online sales business was relatively insulated from the COVID-19 pandemic. Unfortunately, Nike struggled with supply chain disruptions that have negatively impacted sales.

At the beginning of 2020, Nike shares were trading at $101.36. By the beginning of March, the stock was down to $89.60 as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic.

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Nike ultimately bottomed at $60 on March 18, 2020, during the pandemic-driven market sell-off. Fortunately for Nike investors, the dip didn't last long.

By September, Nike shares were back at new all-time highs above $110, and the stock got as high as $147.95 in December 2020.

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Nike In 2021, 2022 and Beyond: Nike traded as high as $179.10 in November 2021 on the strength of strong sales numbers throughout the year. However, the stock has traded steadily lower ever since as Nike has dealt with rising costs, foreign exchange headwinds, shrinking margins, supply chain disruptions and inventory issues. Today, Nike shares are trading back down around $90.17.

Still, investors who bought Nike stock the day it hit its 2020 pandemic low and held on have generated some positive returns at this point. In fact, $1,000 in Nike stock bought on March 18, 2020, would be worth about $1,354 today, assuming reinvested dividends.

Looking ahead, analysts are expecting Nike stock to rebound in the next 12 months. The average price target among the 34 analysts covering the stock is $110, suggesting a 22% upside from current levels.

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