Instead of being beholden to the trade war, 'Nike's actually the most in control of its own destiny,' Jim Cramer says.
"Thanks to the trade war, we know that, in theory, this should be the worst possible moment to sell iconic American brands into the People's Republic," theThe comments came after the sports apparel company's stock broke through the $90 mark after delivering top- and bottom-line beats in its fiscal first quarter report. Nike was implicated in tariffs on Chinese goods as it both makes and sells items into the country.
Nike is the "brand of China for China and the results continue to prove it out," Parker said, according to the transcript. "We've driven double-digit growth in Greater China every quarter for more than five years."
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