Despite the backlash Nike received following the debut of Colin Kaepernick’s “Just Do It’ campaign earlier this month, the latest reports suggest the ad is having a positive effect when it comes to the company’s stocks.
According to a report from CBS News, the brand’s shares have surged 36 percent this year, making the company a top performer on the Dow’s index of 30 blue-chip stocks. This includes a near 5 percent increase since the launch of Kaepernick’s ad, which made its debut on Labor Day Weekend, adding nearly $6 Billion to the company’s market value.
Despite some customers publicly expressing their displeasure toward the ad by threatening to boycott the brand and destroying its gear, the stock continues to hover near an all-time high, currently sitting at around $85.45 per share.
source: sole collector.com BY