Apple CEO Tim Cook disclosed a roughly $3 million open-market purchase of Nike shares this week (via Reuters).

Tim Cook WWDC 2024
According to a regulatory filing published yesterday, Cook purchased 50,000 Class B shares of Nike on December 22 at an average price of $58.97 per share, for a total investment of approximately $2.95 million. The filing shows that Cook now holds about 105,000 Nike shares, a position valued at nearly $6 million.

Nike shares rose following the disclosure, gaining between about 2% and 5% in…