Nike Loses $3.75 Billion in Market Cap After Colin Kaepernick Named Face of ‘Just Do It’ Ads

Politico USA ^ | 7 September 2019 | Staff

[Windflier]

Nike just lost about $3.75 billion in market cap after announcing free agent NFL quarterback Colin Kaepernick as the new face of its “Just Do It” ad campaign. It’s the 30th anniversary of the iconic TV and print spots.

At the time of this writing, the sneaker company’s intra-day market capitalization was $127.82 billion. On Friday, that number had been $131.57 billion.

Market capitalization is the market value of a publicly traded company’s outstanding shares.

Shares of NKE stock dropped about 4 percent on Tuesday morning, as #NikeBoycott has been trending on Twitter. The company’s valuation has since recovered a bit.

We chose a 5-day snapshot of NKE stock so viewers can see the fall comparing Labor Day Weekend’s “before” and “after”:

[Secret Agent Man]

And gilettes idiot ceo hasnt been perp walked out despite 8 billion lost in sales.

[Drango]

bummer. Go woke, go broke.

[piroque]

Ain't KARMA sweet

[livius]

I guess the “woke” market was overestimated.

[2banana]

Nike, Target, Gillette and Dicks.

How is that working out for ya?

Walmart is about to join ya.

[Pilated]

This news makes me feel warm and fuzzie on the inside.

[combat_boots]

Y’ain’t seen nuthin yet

[Aquamarine]

Good job everybody!

[bantam]

I wish they’d lose their entire market cap!!
No Nike’s in this house—f those azzholes!!!

[Gay State Conservative]

I thought I read that Nike's sales went up after the world's most famous 2-14 athlete signed on.

[piroque]

Walmart is about to join ya.

Not to sure about that , the local W-mart is still selling pistol ammo a few calibers they had sold out... this 09-07-19 afternoon.......

[Dawgreg]

Go woke, go broke.

I like that........;)

[bantam]

I like ur thinking!😃

[centurion316]

I’m going to be crying myself to sleep tonight, after I finish off my bottle of JW Weller and dance in the pasture.

[hawkaw]

I like Asics.

[BluH2o]

Recently walked thru the Olympic training center retail shop in Colorado Springs. Easily half the retail area is committed to Nike apparel. Not a busy day for the shop (mid-week) but no one was shopping in the Nike area. The retail transactions taking place were all absent the Nike swoosh.

[lesko]

Walmart has the cheapest groceries, doggone it

[TigersEye]

Colin Kaepernick Named Face of ‘Just Do It’ Ads

Just do what? He's unemployed isn't he? Maybe he should be the face of a 'Just Do Something' campaign!?

[Vision]

Adding insult to injury, Nike insulting the Betsy Ross flag, Nike needs to get out of the USA. Maybe relocate to Africa.