Nike Shares Hit All-Time High After Kaepernick Ad

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Nike’s share prices hit an all-time high 10 days after taking an initial hit following its announcement that former San Francisco 49er Colin Kaepernick would be the face of its latest “Just Do It” ad campaign.

On Thursday, shares for the sportswear brand closed at $83.47 a week after dipping more than 3 percent following the announcement of their endorsement deal with Kaepernick, who was the first NFL player to protest racial inequality and police brutality by taking a knee during the national anthem before games.

Though Bloomberg News noted it will be months before the business impact of the partnership can be fully measured, it pointed out data released from Edison Trends, a digital commerce research company based in Silicon Valley, that showed Nike’s growth in sales tracking much higher than last year.

 

Read more at The Hill.

{Matzav.com}

3 COMMENTS

  1. Not necessarily true because they could’ve doctored the numbers to make it seem that the shares are high. Fake News have loads of experience fixing up numbers and polls and news.

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