After Controversial Kaepernick Ad, Nike Stocks Close At All-Time High
In what has been seen as a major baller move, Nike came together with Colin Kaepernick for the 30th anniversary of the iconic “Just Do It” motto. The former San Francisco 49ers quarterback stirred mass debate and discussion by taking the knee (while the national anthem was being played) during the 2016 season – Kaepernick did so to protest the police killings that majorly appear to affect the African American community.
“We believe Colin is one of the most inspirational athletes of this generation, who has leveraged the power of sport to help move the world forward,” Nike executive Gino Fisanotti told ESPN. “We wanted to energize its meaning and introduce ‘Just Do It’ to a new generation of athletes.”
— Colin Kaepernick (@Kaepernick7) September 5, 2018
Following the release of the advertisement, several right-wingers on Twitter posted images and videos of themselves burning their Nike products – some even cut out the swoosh symbol from their clothing. However, despite such massive outrage on social media, the company’s online sales actually grew by 31 per cent, according to researcher Edison Trends.
“The research confirms that, at least for now, the company is suffering no negative repercussions in sales,” the firm said, according to BBC.
It doesn’t stop here – on Friday, Nike’s stock closed at a record high. Fortune reports that the company’s shares closed up 2 cents to $83.49 and that it’s stock has risen 5 per cent since the partnership with Kaepernick was announced.