By Kathryn Musumeci
Nike, formally called “Blue Ribbon Sports,” was started in 1964 in a handshake between Phil Knight and Bill Bowerman. The company saw quick success: by 1974 the “Waffle Trainer” was the bestselling training tennis shoe in the US.
In 1980, Nike officially went public, offering company shares for a mere 60 cents. Since that time, the company has seen a stead increase in annual revenue as well as an steadily increasing stock price. The stock hit an all-time high in September, 2012 when shares cost $100 each. Although the stock has seen a slight decline in the last few months, (shares are currently $95.35) Nike stock has always trended upwards despite small setbacks.
Nike has gotten recent attention from share holders and market watchers alike, many of whom wonder if Nike will manage to diversify itself and appeal to new audiences. Rumors suggested that Nike may be acquiring Under Armor, but those were recently found to be untrue.