Nike Stock Hits All-Time High 10 Days After Kaepernick Ad

Ten days after Nike’s new Colin Kaepernick ad provoked calls for boycotts, shares hit an all-time high, closing at $83.47 Thursday.

From Bloomberg:

Ten days after Nike’s new Colin Kaepernick ad provoked calls for boycotts, shares hit an all-time high, closing at $83.47 Thursday.

It will likely 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, but early data from Edison Trends show sales tracking well above 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.

I guess this answers Donald Trump’s question, “What was Nike thinking?”

On September 5, Donald Trump told the media, “Nike is getting absolutely killed with anger and boycotts. I wonder if they had any idea that it would be this way?”

Looks like Nike had more than “an idea.”