You Can CEO Your Way Out

...and don't let the doorknob hit ya where the... well you know the rest.

[PaperTrail] Can't Yelp But Wait

Wednesday, October 23rd | Issue No. 121

Freeman Capital Wealth Management Firm

MARKET MOVES...

S&P 500: 2,995.99 -10.73 (-0.36%)

Dow Jones: 26,788.10 -39.54 (-0.15%)

Nasdaq: 8,104.30 -58.69 (-0.72%)

PRE-MARKET PLAY...


Good Tree - Good Vibes Vol. 1


(listen to PAPERTRAIL playlist)

IT'S BEEN REAL...

But all good things must come to an end.


Longtime Nike (NYSE: NKE) CEO, Mark Parker, has agreed to step down from his position so he can do hoodrat stuff with his friends.

Young Black male child looking timid

WHY THIS IS HAPPENING...

Mark Parker took over as CEO of Nike back in 2006 replacing the company's co-founder and Shoe Dog millionaire, Phil Knight. During Parker's stint at the Swoosh, there's been the best of days and the worst of days but overall the company and stock have lived their best lives. Nike has been put on blast for things like athlete doping allegations and gender discrimination which is why some believe he's tapping out. But the company has also has been deemed a real one by saying #ImWithKap and landing major athletes like Lebron James and Serena Williams displaying its affiliation to the culture.


Long story short, through the good and the bad, Nike remains a supreme athlete and sneaker brand and investors are here for it. Mark will stay on as executive chairman to the board but his CEO position will be replaced by current ServiceNow (NYSE: NOW) CEO and former eBay (NASDAQ: EBAY) CEO, John Donahoe. The stock price didn't budge on the news.

THE RETURN...

Nike stock is up 26% this year and 790% since Parker was named CEO in 2006.

FOR THE NEWB IN YOU...

Corporate leadership is a big deal when it comes to investing in a company that you plan to own for the long-term. We've seen recently how poor leadership can derail WeWork a major company and cause its investors to lose faith. If you plan to "buy and hold" a stock for 5 to 10+ years, always look into its leadership team to get an idea of what the company stands for and make sure you more often than not agree with who's calling the shots.

IT'S BEEN TRILL...

Considering it all started in granny's basement.


Founder and CEO Kevin Plank of Under Armour (NYSE: UA/UAA) will also be stepping down from his position to join Mark Parker in retirement.

Samuel L. Jackson in the movie Pulp Fiction

WHY THIS IS HAPPENING...

Looks like hanging out with splash brother Steph Curry isn't enough to keep Under Armour's OG from hanging his jersey in the rafters. Kevin Plank has come a long way since founding the company back in 1996 in Baltimore. It's no secret that Under Armour started with a bang but then strugg