Nike stock prices were volatile in the days after the company announced that former NFL quarterback Colin Kaepernick would be the face of an upcoming ad campaign for the 30th anniversary. The announcement came with the release of a black and white photograph of Kaepernick’s face that featured the tagline: “Believe in something, even if it means sacrificing everything.”
That led to an uproar from conservatives who have not been pleased with the national anthem protests that Kaepernick is credited with which brought attention to racial inequality and systemic racism in the country.
People were flocking to social media to share videos burning their Nike gear — not exactly the best form of protest, considering you already paid for it — and claiming that stock prices would plunge because the Swoosh brand was bringing on such a controversial person.
Well, that does not seem to be the case.
According to The Comeback, Nike stock prices are actually now at an all-time high. That has been driven by a 31 percent rise in sales since announcing Kaepernick as the face of their campaign. The report states:
Well, after about 10 days, they can’t even say that anymore. On Thursday, Nike rebounded and closed at an all-time high of $83.47 per share, their fourth consecutive day of having a higher stock price than the day before and experiencing a stronger bounce back than the NYSE over the same time period.
Here is a look at the stock trends over the years.
So… about that boycott, huh?