Posted on 09/04/2018 4:05:43 PM PDT by gattaca
It just went from bad to worse for Nike.
The iconic sports equipment brand took a big risk by employing Colin Kaepernick for its new ad campaign. And it’s not just because Kaepernick – who hasn’t seen any professional action in over a year – insulted the American flag with his protest against police brutality. It’s also because the tagline of the campaign (“Believe in something. Even if it means sacrificing everything.”) is a direct insult to those who have served their country, and have given everything for it. (RELATED: After Nike Kaepernick Ad Outrage, Social Media Focuses on Pat Tillman.)
Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO — Colin Kaepernick (@Kaepernick7) September 3, 2018
This morning we reported that Nike’s stock price took a hit shortly after the ad campaign launched. (RELATED: Nike Stock Goes Turbulent as Fans Boycott Brand After Kaepernick Promotion Announcement.) But now we’re learning that the repercussions of using Kaepernick to sell sweatshop-made sneakers are even worse.
The Wrap reports that Nike just lost billions in its market cap evaluation:
Nike just lost about $3.75 billion in market cap after announcing 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.
.@Nike Loses $3.75 Billion in Market Cap After Colin Kaepernick (@Kaepernick7) Named Face of ‘Just Do It’ Ads$NKE #JustDoIt https://t.co/E6EAt5LzSU pic.twitter.com/yu54s3qsLw — TheWrap (@TheWrap) September 4, 2018
Now, there’s a chance this drop is temporary. Nike could weather this storm after the controversy.
But, then again, the NFL never did recover in ticket sales since the “take the knee” protest wore on throughout last year’s season. (RELATED: NFL Sunday Night Football Ratings Down After National Anthem Protests.) People remember their loyalties. And many in this country remain loyal to America and her flag, despite their own personal opinions toward football.
Forest Gump:
There’s an awful lot you can tell about a person by their shoes.
My Momma said, If its Nike, they hate America and freedom, and want to kill cops.
“Mamma said they was my magic shoes. They could take me anywhere, like straight to hell when I wore my Nikes”
‘Just Do It’
And they did in droves. Who wants “loser shoes”?
This is an ad campaign to attract BLM and Antifa. Like trying to smear dog feces on a prom dress you want to sell. Give it a few days.
Good!! I am due to buy a new pair of athletic shoes. I ALWAYS buy Nike...but now I’m thinking I will go with Adidas...if they aren’t owned by Nike. Must research.
They have gone muzzie.
Could possibly recover from the major faux pas by offering “Nike Kaepernick Air Head Sneakers”.
Keep it not coming!
Maybe “Air Jihads” for the Palestinian market?
Nike. Just blew it.
Couldn’t happen to a better group of leftist idiots.
Me too, I like NB. But I’ll never buy Nike again, not even as a gift. They can shove it.
As a former satisfied Nike customer, NEVER AGAIN. I will never ever ever buy another Nike product.
I won’t look at them. I won’t see how they feel. I will never buy Nike again.
Awesome. Go woke, go broke.
They already have.
Seems the company closed an American plant and opened it in Honduras.
Never again will this horse crap company get one penny from me.
Hey nike, f you
Interesting - the lead story on Yahoo Finance is that because of chitlins, the millennials are buying up the stock....
I copied and pasted that from an old Fox news piece.
I would imagine that a lot of pro golfers (some of which are conservative) will pull out of Nike. Especially if they feel it hurts them on tour and has an effect on their fan base.
yep, but only in the good years ... the lean years not so much
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