Even with all of the controversy surrounding its new ad campaign featuring former quarterback Colin Kaepernick, Nike’s stock price hit its all-time high late this week.
And none other than LeBron James, pro basketball superstar, was quick to celebrate the news.
And to do a little gloating while he was at it, too.
https://twitter.com/KingJames/status/1040448101415186432
The athletic company had been the subject of calls for boycotts after it announced that Colin Kaepernick, the former San Francisco 49ers quarterback and the original anthem kneeler, would be the face of the company’s new ad campaign. – READ MORE
[divider][/divider]After suffering its “biggest intraday slide in five months” the day after unveiling its Colin Kaepernick-starring 30th anniversary “Just Do It” campaign, Nike’s stock value has climbed to new heights.
“Ten days after Nike’s new Colin Kaepernick ad provoked calls for boycotts, shares hit an all-time high, closing at $83.47 Thursday,” Bloomberg reports. Though the outlet underscores that it will be “months, if not longer, until anyone can fully measure the business impact of Nike Inc.’s controversial partnership with quarterback-turned-activist Colin Kaepernick,” the early data looks promising compared to last year:
Edison scanned receipts from more than 200 online retailers (including Nike.com) and found that that Tuesday after Labor Day, for example, the first full day after Kaepernick’s ad went viral, Nike purchases were 22 percent higher than the same day in 2017. On Wednesday they were 42 percent higher, and Thursday they were 23 percent higher. They remained above 2017 levels through the end of the week. – READ MORE
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