Posted on 09/23/2018 12:19:01 AM PDT by vannrox
The heat Nike has taken over its controversial advertising campaign featuring former NFL start Colin Kaepernick seems to have had another effect: burnishing the iconic brand's appeal to investors.
Nike shares have surged 36 percent on the year, making the company the top performer on the Dow's index of 30 blue-chip stocks. The run-up includes a nearly 5 percent increase since Nike's Labor Day announcement that Kaepernick would be featured in its campaign, adding nearly $6 billion to the company's market value.
The stock continues to hover near an all-time high, which it reached in mid-September only weeks after some Nike customers publicly burned their shoes to express their displeasure at the new ad.
In afternoon trading Nike shares were up slightly to $85.67.
For Nike, the boost eases concerns about the decision to link its brand to the controversial Kaepernick, who in 2016 started kneeling during the national anthem before games to protest racial injustice.
Nike knows its consumer base, which skews younger, said Art Hogan, chief market strategist at B. Riley RBR. "I don't think they just randomly decided to put this ad out, thinking, 'Let's commit political-correctness suicide'."
(Excerpt) Read more at cbsnews.com ...
Why dont they replace the crosses at the Arlington Cemetery with Nike Logo while at it?
The big corp hysterics and hubris knows no bound. Break families to make facebook media the daddy, break the values to make corps the cults, and destroy the country... that will let the communist take them over and destroy them
I wish I had cbs news spewing out cr@p for me like they do krapperknack.
The new Yeezy shoes just dropped at adidas if you want to spend hundreds on a trump supporting crazy dude. (Kanye West)
Hate Nike
Nothing like a good old American company to honor a communist stooge.
As we Holocaust affected families say, “Never Again” (will I or my family buy anything from NIKE).
You support a communist; we boycott you. Simple.
In yo face, America!!! The Kaep is Nike’s BIG MONEY man when it comes to stinky, expensive basketball shoes.
Long term it will hurt the company. And I am glad.
Ask Jane Fonda how betting against America has worked out for her in the long term.
The communist youth just got played by The Man - the corporate, 3rd-world exploiting profiteer.
Every day, we should thank God we are not Libs.
Very smart of Nike to pander to their prime client base.
The base will now go out in force yanking off gold chains and bullying the whole neighborhood to get money to pay for Nike’s Chinese made crap.
Kaepernik is the CNN of third down conversions. No way Nike wins with him on the team.
My theory is that Nike stock was run up by supporters of the ad and investors looking to buy on the dip. Expect stock to drop in value as sales decline over time, somewhat similar to NFL attendance.
I did find one positive in this dispute. While playing golf I pulled out an old Nike ball with the intent of abusing and losing it. Amazingly and despite missing fairways and just about every green (in other words my usual game), I never lost the ball. Like seeing the ad on TV, the ball remains to be a thorn in my side. Guess I’ll just have to put it in a trash can where it belongs.
I’ve never found them comfortable, and even if I did I’d never buy them now.
Once I discovered New Balance I never looked back.
It took the billion dollar man, what, about 2-3 years to injure the NFL..i give NIKE about that long.
Nike is now seen as an anti-American corporation. This will attract the anti-American consumers worldwide.
Eventually though, Nike will go down in flames. The leftest will see them as just another capitalist greedy company. Nike will have no one to blame but themselves.
The same way that Heineken went after the homosexual consumer. They are now seen as strictly a homo beer company. Their sales have dropped accordingly.
LOL, socialism is good for selling product. I wonder how much money has been made from selling Che Guevara shirts. This hypocritical phenomenon goes all the way back to the 1960s. You had all these hippies preaching about rejecting materialism. Meanwhile all the department stores were selling hippie clothes, black light posters, mood rings, love beads, and of course tons of record albums back in the day when everyone bought vinyl, featuring songs about rejecting materialism! They made a mint selling the stuff. In prosperous Western Nations like the US, socialism is just a fashion statement and nothing more.
The networks are running daily Krapernick stories - can we take a break on FP and not give him anymore free publicity?
How much of it is the doing of george soros, tom steyer, and warren buffett?
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