Colin Kaepernick Nike Campaign Added $6 Billion to Company’s Market Value
The company's shares have surged 36 percent on the year.
Far from sacking the company, Nike’s controversial ad campaign featuring Colin Kaepernick has been a huge success, according to a CBS report.
The sneaker giant’s shares rose by 36 percent, making the “company the top performer on the Dow’s index of 30 blue-chip stocks.” According to Maxim, five percent of the increase has come since Nike announced the ex-QB’s involvement.
CBS reports that Nike’s stock continues to hover near an all-time high. This boost eases concerns about linking the brand to Kaepernick, who started kneeling during the national anthem before games in 2016 to protest racial inequality, a move that sparked both similar protests across the NFL and outrage from fans.
Nike customers who were dissatisfied with the ad when it hit in mid-September took to social media to publicly burn their Nike goods.
First the @NFL forces me to choose between my favorite sport and my country. I chose country. Then @Nike forces me to choose between my favorite shoes and my country. Since when did the American Flag and the National Anthem become offensive? pic.twitter.com/4CVQdTHUH4
— Sean Clancy (@sclancy79) September 3, 2018
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