Nike is a sporting goods and apparel giant. So big that they made a calculated decision to purposefully create a piece of advertisement that would literally lose the company billions upon billions of dollars.
Well, the stock hit only lasted a day.
Nike released a Colin Kaepernick ad as part of the 30th anniversary of their signature ‘Just do it.’ campaign, and it was mat with fierce backlash, so much so that customers were cutting the brand’s logo of their clothes and burning merchandise in protest.
The the firestorm is still alive, the company’s stock in the green hours after dipping, likely due to man wanting to get in to buy low, with Nike inevitably bound to rebound.
Well look at that.
Nike stock going back up.
Another successful boycott. pic.twitter.com/YqVAPaPDdP
— andy lassner (@andylassner) September 5, 2018
Contrary to what one would suspect, other major players in the footwear section also went down along with Nike Tuesday.