Jim Cramer says he is staying away from Nike shares after a personal “bottom-fishing” loss

Jim Cramer told viewers he is not looking to play a rebound in Nike shares after his own experience trying to “bottom fish” the stock, according to remarks made during CNBC’s Mad Money on September 30. The comment came after a caller asked about possible upside in Nike (NYSE: NKE), framing the question around whether the market’s drop might already have run its course.

In his reply, Cramer said he attempted to buy Nike based on the idea that the stock was near a bottom, but that the approach did not work out for him financially. Rather than outline a specific trading plan for Nike, he emphasized the personal outcome, suggesting he is stepping back from the name for now.

The exchange underscored a common tension in retail investing debates: whether sharp price declines announcement an opportunity or whether they reflect ongoing uncertainty in fundamentals. Nike, like many consumer brands with discretionary demand, can attract “bottom-fishing” interest when investors believe sentiment has overshot.

Nike (NKE) is a global athletic apparel and footwear company, selling brands and products that rely on consumer demand, wholesale and direct-to-consumer channels, and inventory planning. When markets are volatile, investors often focus on near-term indicates such as sales trends, promotions, and inventory levels, because those can quickly influence earnings expectations and stock performance.

Cramer’s comment did not include any new Nike-specific disclosure in the segment, such as guidance, updated financial results, or a cited internal catalyst. The remarks were positioned as a personal decision about staying away, rather than a detailed fundamental assessment of the company’s outlook.

For investors and traders, the practical takeaway from the segment may be less about Nike’s business and more about how prominent market commentators manage risk. Bottom-fishing strategies can be attractive in theory, but they require confidence that a decline has stabilized, and they can be punished if the stock continues to fall or if earnings expectations keep slipping.

Still, what Cramer did not say is important. The segment did not specify what price level he bought at, how long he held the shares, or whether the loss reflected broader market weakness, brand-specific dynamics, or changes in expectations around Nike’s performance.

What to watch next for Nike is not contained in the Mad Money exchange itself. With no additional company information provided in the post, market participants will likely continue to rely on Nike’s own investor communications and earnings reports to determine whether the stock’s valuation and sentiment match the company’s underlying trajectory.