Posted on 09/14/2018 6:24:20 AM PDT by TangledUpInBlue
Ten days after Nike announced that Colin Kaepernick would be the face of its “Just Do It” 30th anniversary ad campaign, the sports apparel behemoth’s stock price closed at an all-time high on Thursday at $83.47, according to a report from Bloomberg.
Nike had previously faced a noticeable dip in its stock price in the immediate aftermath of its Kaepernick announcement, dropping nearly 3 percent in the next day of trading at the New York Stock Exchange. That fall has since been made up and more, with the current price slightly besting the company’s previous high of $83.00 from Wednesday and an earlier peak of $82.95 on Aug. 21, 2018
(Excerpt) Read more at yahoo.com ...
Meanwhile, on the interwebs, Nike is mocked daily via scores of memes that have turned Nike into the butt of jokes.
Yeah. All the BLM and Diversity types immediately went out to buy something to show their support and make a political statement.
The people who just y=turned their backs on Nike don't yet show up the balance sheets. Lets see what happens when the sugar high runs out.
Notice how Nike waited til after back to school season before dropping their bomb to make sure the soccer moms didn't vote with their feet and buy addias this year
Lest see how they are doing at the end of December
Nike’s target consumers are people in big cities who buy the latest fad basketball shoe. Their profits aren’t built on selling a pair of running shoes to a retired military guy in Arizona once a year. I’ve used their running shoes for close to 40 years because they work for me. I’ll never buy another.
AND THEY WON’T MISS ME!
They want to capture market share in Philadelphia, or Baltimore, or LA. Small town Arizona isn’t their core. Hasn’t been for a long time. Won’t ever be again. And they are fine with it.
Me? From here on out, I plan to buy New Balance. Made in America. Probably should have switched years ago. Nike wrote me off a long tie ago. They haven’t wanted my business in decades.
Or Soros is proping up their stock to support The Agenda.
Or China. Same Agenda, the destruction of America.
Yep. New Balance here as well.
Anti-anything Trump sells. Not a mystery at this point and it’s one reason this over the top partisanship continues on. Whether one wants to believe it or not, President Trump is the most hated figure on earth. NIKE makes 50%of its revenue overseas. Google will not suffer either.
They monkeyed around with their marketing and decided to go after the stupid people. Guess it worked; at least for now. It may be the kiss of death later though.
I rarely wish for a company to crash and burn but in this case I will make an exception.
Every favela dweller (under a cartain age) in Brazil probably owns several pair of expensive sneakers.
We need to face the fact that a sizeable minority of our population hates America.
Yes - it’s fake news claiming that people must support Nike because the stock is an all time high.
This white person wears stuff from Duluth Trading.
I don’t really own sneakers anymore. One pair of Asics running shoes. That’s it.
More like conservative, progresssive and libertarian money managers.
Nike has 1.3B shares outstanding. I don't think there are enough rich leftists to move the needle.
Maybe it has something to do with this?
What boycott? Nike sales are up 31 percent since the Kaepernick campaign
Nike is a big company, included in many indexes - so its price will fluctuate along the the flows of money into those index funds.
A rising tide lifts all boats - and a shift toward consumer products or American stocks would raise Nike’s stock price by default.
Stock price is due to many factors, as well as just perception or mood.
Earnings is the real bottom line. Next quarter’s earnings report will reveal the real effect on their real business. Until then, we will mainly see leftist reporters trying to manipulate public perception before the election.
This is one of those outrage stories that never really get follow up a year + out. Target seems to be doing fine, and they let men who claim to be women use their exclusive female facilities.
Freegards
I guess the PR guys knew what they were doing.
Alienate some biz and get more back from controversy.
God bless economics I guess.
This is a short term pump of the stock. I would watch it over the next year to see what happens. They are trying to keep a positive narrative right now. If sales drop off in the near future they won’t be able to hide it.
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