One Magnificent Dividend Stock Down 71%: Too Cheap Not to Buy and Hold Forever

What: Nike stock has plummeted **71%** in recent years, making it a potentially undervalued investment opportunity.
Why: The company's turnaround potential, driven by its strong brand and innovation in the athletic wear market, makes it an attractive buy-and-hold candidate.
Signal: Nike's recent stock price of around **$45** per share, down from its all-time high, may indicate a buying opportunity for long-term investors.
Target: Investors may consider setting a target price of **$65** per share, based on the company's historical earnings multiple and growth prospects.
Risk: However, investors should be aware of the potential risks associated with investing in a turnaround stock, including the possibility of further declines in the short term.