Nike stock soars in rebuke of Trump's racist attacks on NFL


Embracing Colin Kaepernick, and national anthem protests, appears to have been good for Nike's bottom line.

American consumers are voting with their pocketbooks, as are investors, and both have rewarded Nike in the wake of its branding battle with Trump.

Not only are retails sales up for Nike, but its stock price is soaring.

The company's recent decision to use Colin Kaepernick as the focal point for the company's revived "Just Do It" ad campaign trigged an angry response from Trump and his NFL-bashing followers.

It was Kaepernick who sparked the protest movement to kneel during the national anthem prior to games, in order to call attention to police brutality.

Trump has called those players unpatriotic and suggested they "shouldn't be in the country."

"Maybe you shouldn’t be in the country,” Trump told Fox News this year, as he fanned the ugly flames of his racist crusade targeting mostly black football players who protest peacefully in the name of equality.

After the Kaepernick news about his Nike alliance broke over Labor Day weekend, conservatives hoped the company would pay a financial price for its embrace of the former NFL quarterback and of free speech. They also hoped there was a groundswell of support for Trump and his manufactured sporting event crisis.

But, no.

Nike isn't paying a price for taking on Trump in such a blunt and public way — in fact,  the sneaker giant's bottom line is getting fatter because of it.

The brand's online sales spiked 31 percent right after Nike broke the Kaepernick news. And this was even before Nike aired its first TV ad of the campaign last Thursday night, during the opening game of the NFL season.

Meanwhile, Nike's stock price has already recovered all of the short-term losses that occurred in the wake of the announcement.

On the first public trading day following the Kaepernick news, Nike's stock price dip down to $79. On Monday, the stock had climbed as high as $83.

Not only that, but analysts are bullish on Nike's growth potential and expect the stock to soon climb into the $85-$95 range.

"Nike has regained its footing and is solidly marching back to top form," one analyst announced.

Overall, Nike's stock price is up a stunning 33 percent, year to date, compared to the Dow's overall performance, which is up 5 percent, year to date.

This news will likely have Trump fuming. Last week, he loudly denounced Nike. "I think as far as sending a message, I think it’s a terrible message and a message that shouldn’t be sent. There’s no reason for it," he said.

Once again though, Trump speaks and Americans ignore him.

Published with permission of The American Independent Foundation.