Market Movers: Nike Exploding Higher on Insider Buying

Oversold shares of Nike (NYSE: NKE | NKE Price Prediction) are on the run.

All on news that CEO Elliott Hill bought 16,400 shares for about $1 million. This follows news that Apple’s Tim Cook bought $3 million worth of Nike stock. Cook, who has been on the NKE board since 2005, bought 50,000 shares at an average price of $58.97. Robert Swan, another Nike director, bought about $500,000 of stock on Dec. 22 at an average price of $57.54.

All after Nike suffered with China sales, declining gross margins, and a cautious outlook.

Technically, after catching strong support at about $57, the oversold shoe giant is starting to pivot higher. Last trading at $62, it’s also starting to pivot from overextensions on RSI, MACD, and Williams’ %R. From here, we’d like to see it initially refill its bearish gap at around $66.20 a share over the next few days.

Axsome Therapeutics

Shares of Axsome Therapeutics (NASDAQ: AXSM) are up 18%, or by $28.17 a share.

All on news the U.S. FDA granted priority review of the company’s marketing application seeking a label expansion for its depression therapy AXS-05 in Alzheimer’s disease agitation. The U.S. FDA issued April 30, 2026, as its target action date.

“Up to 76% of people with Alzheimer’s disease experience agitation, representing a significant unmet medical need for patients and their caregivers, and currently, there is a dearth of approved treatments. We look forward to continuing to work with the FDA for the remainder of the review,” said Herriot Tabuteau, MD, CEO, as quoted in a company press release. 

Taiwan Semiconductor 

Shares of Taiwan Semiconductor (NYSE: TSM) are up about $5.35 a share.

Reportedly, Nvidia asked TSMC to help ramp up production of its H200 artificial intelligence chips, as noted. by Reuters. “Chinese technology companies have placed orders for more than 2 million H200 chips for 2026, while Nvidia currently holds just 700,000 units in stock,” they added.

“The exact additional volume Nvidia intends to order from TSMC remains unclear, they said. A third source said Nvidia has asked ‌TSMC to begin production of the additional chips, and work is expected to start in the second quarter of 2026.”