Nike Stocks Hit All-Time High After Colin Kaepernick Campaign
LeBron James celebrated with a fiery tweet.
Shares closed at $83.47 on Thursday evening, marking the highest stock value in the 54-year-old company’s history. Bloomberg has further details on how Nike has fared since taking their partnership with the NFL quarterback-turned-activist public.
[Edison Trends] 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.
— Colin Kaepernick (@Kaepernick7) September 5, 2018
Though Nike stock dipped 3 percent immediately following the Kaepernick announcement, online sales surged 31 percent from the Sunday of Labor Day weekend through Tuesday as some protesters voiced their displeasure by burning their swoosh-embroidered shoes online.
The full impact of the extremely divisive ads celebrating the 30th anniversary of the “Just Do It” slogan likely won’t be realized for some time.
— LeBron James (@KingJames) September 14, 2018
Other Twitter users did the same.
Nike stock currently the highest it's ever been ✊🏻 pic.twitter.com/3fRzlSeLqZ
— Courtney (@cmpwrites) September 14, 2018
Nike stock up again today. That boycott is a joke
— Matt Powell (@NPDMattPowell) September 6, 2018
For now, it’s clear that Nike’s new spokesman is paying off.