Nike Sees Strong Numbers and Wish Granted Payment Service License
Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. Nike also owns Converse, which makes athletic lifestyle footwear. Nike’s stock has been up by over 15% since its fourth-quarter financial reporting.
Nike’s overall numbers have been quite solid, in fact, according to NASDAQ, the company saw revenue of $12.3 billion, up by 96% year-over-year. Moreover, the Nike Direct fourth-quarter sales increased by 73% to $4.5 billion. Nike also saw diluted earnings per share (EPS) of $0.93 for the quarter. Despite less customers in stores, Nike’s online orders sustained them well throughout the pandemic – proving their brand’s resilience.
Wish is an American online e-commerce platform that facilitates transactions between sellers and buyers. Wish was founded in 2010 by Piotr Szulczewski and Danny Zhang. Wish is operated by ContextLogic Inc. in San Francisco, United States.
Wish, just yesterday, made a new announcement that it has been granted a Payment Services License by the Dutch Central Bank. This new license will allow the company to process transactions at a faster pace and increase the control over the payments in value chain in a compliant manner. This also is a steppingstone for their general expansion across Europe since the license will be passported – enabling Wish to become a payment service provider in Europe. Some investors have compared Wish to Etsy and Pinterest which both fell from their IPO prices before rising higher later.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.