Nike Stocks Surging Following Betsy Ross Controversy

TMZ Sports ^ | 07/05/2019

[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.

[kaehurowing]

Nikes are poorly made and vastly overpriced. When you buy their shoes you are paying for all their advertising campaigns, not the product.

I wear ASICS for running.

And remember, NIKE is marketing to the ghetto mentality.

[Frank Sheed]

Before this Betsy Ross stuff broke, I saw an article saying the Soccer Jersey for the US National Women’s team was breaking all kinds of sales records. That’s a Nike product. Nike sales are inflated due to the final game coming Sunday for the World Cup.

[E. Pluribus Unum]

Soros.

[angelcindy]

they only want people to buy the stock ....saying its gone up ...

[Old Yeller]

They lost my bidness.

[mabarker1]

There needs to be Charges Filed on this crap. (i) The flag should never be used for advertising purposes in any manner whatsoever. It should not be embroidered on such articles as cushions or handkerchiefs and the like, printed or otherwise impressed on paper napkin or boxes or anything that is designed for temporary use and discard. Advertising signs should not be fastened to a staff or halyard from which the flag is flown.

(j) No part of the flag should ever be used as a costume or athletic uniform. However, a flag patch may be affixed to the uniform of military personnel, firemen, policemen, and members of patriotic organizations. The flag represents a living country and is itself considered a living thing. Therefore, the lapel flag pin being a replica, should be worn on the left lapel near the heart.

[Anti-Bubba182]

Nike owns the minority shoe market. A person can be robbed and killed for wearing some of their shoes in some neighborhoods. Nike is catering to their market. I doubt they care a jot about the underlying social issues other than how it relates to profit.

[Repeal The 17th]

[Dr. Sivana]

Nike has freely chosen their lane, I'll choose mine. I will continue wearing New Balance. My children will not wear Nike shoes unless they buy them with their own money. And that's going to be a long time.

We are not the target audience. In my last job, one of my co-workers collects Air Jordans. He has over 300 pairs. I am not kidding. He is black, but he is not a Kapernick fan, he just likes the shoes and decides to collect. He is also very good at what he does, working through the ranks, and has my respect as an employee and co-worker.

But families together cannot begin to compete with what Nike has built among people who buy expensive sneakers, and lots of them.

[hadaclueonce]

F Nike

[Ouchthatonehurt]

Pump before you dump?

[Phil DiBasquette]

Ok so where’s the racketeering charges against this guy

From supporting migrant caravans to voter fraud
to funding Antifa this guy should be hanging
upside down from his thumbs in Gitmo

[Clutch Martin]

Hmmm...

The Marxists needed a Chick-fil-A and Nike filled the gap.

[Vinnie]

Fortunately I’m a New Balance man.

[McGavin999]

Need to identify those stockholders

[hsmomx3]

Somebody is buying a boatload of them and I have to ask...were these made in China?

[Engedi]

So Kaper is ok with getting major dollars from Nike brand products that are made by foreign slave laborers. But our Flag triggers him because it reminds him of slavery years in our country.

[Chode]

never owned a pair so i can’t even stop buying them

[Drew68]

Fortunately I’m a New Balance man.

Same here.

I don't look nearly as cool as Mel does though.

[RetiredArmy]

Well, I WILL NOT buy any Nike product ever again. That is how this Patriot feels about it. Even if they apologized, I wouldn’t buy their anti-American Kap the Sap Crap.