NikeShares rose by 1% on Monday in extended trading after Guggenheim deemed the retailer his “best idea” of 2022.

Robert Drbul, analyst, wrote to clients in an opinion piece that Nike should maintain its dominant market share as it continues to scale online and introduces new products and shoes in the New Year.

He said that Nike was likely to be affected by disruptions in global supply chains, although the company will still be able hit its targets. financial targets it laid out last June.

Nike’s brand has seen its momentum in China slow as well. which was a key point of weakness on the company’s latest earnings report.

Drbul stated, however that China concerns “present an opportunity for long term investors, as Nike continues to produce and innovate products that are connected with local consumers through the promotion of healthy lifestyles and other important social themes.”

Guggenheim stated that the retailer will closely monitor Nike’s involvement in metaverse 2022. The retailer was notified in December. announced it bought virtual sneaker company RTFKT for an undisclosed amount.

Nike shares have increased by almost 18% over a previous year. The market value of Nike shares is $263.8 million.