Posted on 07/05/2019 1:13:48 PM PDT by Drew68
The heat Nike is taking over the controversy surrounding Colin Kaepernick and the Betsy Ross Flag Shoe is having another effect ... enhancing the brand's appeal to investors.
Nike shares are surging in the wake of the company's decision to recall its special Betsy Ross Flag Air Max 1 USA sneakers after Kaepernick complained the 13-star flag design was offensive because it's been co-opted by several white nationalist groups.
Since Nike pulled the plug on the sneakers following Kaepernick's objections earlier this week, Nike shares have seen a 2 percent increase since Tuesday, adding nearly $3 BILLION to the shoe giant's market value.
Friday afternoon, trading Nike shares were up slightly to $86.62 and the company's market value is now $136.38 billion.
The stock surge looks a lot like what Kevin O'Leary predicted a few days ago ... the "Shark Tank" investor told us Nike is taking advantage of the controversy with a firestorm of free marketing.
A similar trend involving Nike and Kap unfolded last year, with Nike stock rising and sales jumping after the Swoosh signed Kaepernick as a spokesman.
This is America! Poor people have money to burn! On sneakers!
Bill Bowerman is rolling over in his grave.
more fake news
more fake news
I don’t feed the beast, but lots of people who think they’re conservative do.
Neutrality is not allowed. You're either with the young, cool, "woke" brown kids or you're waving torches for Nazi Trump. One or the other. Pick your lane.
I bought a pair of Skechers a few months ago. So far I really like them. I used to wear Reeboks but my last pair of theirs was my last (sole literally came off one of them).
sell the fake news!
Agreed. Propped up by a lot of rich libs. Also, I imagine “shoe stock market” would make a killing on the rarity of the Betsy Ross Flag shoe.
Stock is easily manipulated, do not trust what the market is saying. Nike is dead as a brand to a large segment of the population.
Yes - yours.
Ditto.
I wonder how the NIKE stock value will do if America succumbs to the communism that its customers support?
I don’t get it. I will neer purchase another nike product myself.
And a large segment of the population will now not wear anything other than Nike, buying them for the exact same reason that I refuse.
We are rapidly splitting in to two separate countries, two separate value systems with which there can be no middle ground. Sides will have to be chosen.
What patriot will ever wear the BR and/or American flag on their shoe, anyway? Doing so instinctively strikes a nerve,... or should.
“Something about this doesn’t smell right.
Light trading day; their time is coming. FU Nike!
California billionaires.
True story: I was at the Skyview Mall in Queens on Weds. They have a Nike outlet store there. It was packed. In fact, there was a long line just to get in. At first, I thought it was a line for a movie; but no, it was the Nike store. It was mostly Asians (as that is China/Korea town), but I still could not believe it.
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