Nike stock shares and market capitalization plummeted significantly on Tuesday after the athletic titan announced that a controversial former NFL player would be the face of its main advertising campaign.
“Nike just lost about $3.75 billion in market cap after announcing free agent NFL quarterback Colin Kaepernick as the new face of its ‘Just Do It’ ad campaign,” according to The Wrap. “It’s the 30th anniversary of the iconic TV and print spots.”
Market capitalization is the value of the shares of a company’s outstanding shares.
“At the time of this writing, the sneaker company’s intra-day market capitalization was $127.82 billion, The Wrap said. “On Friday, that number had been $131.57 billion.”
Shares of Nike stock plummeted nearly 4% Tuesday morning before stabilizing throughout the afternoon.
Kaepernick is at the center of a heated debate regarding respect for the National Anthem. He started a movement of kneeling during the Anthem in 2016 which he says is to raise awareness about maltreatment of black Americans by police. Several players joined Kaepernick in the protest, and some are still kneeling for the Anthem at the beginning of the 2018 NFL season.
The free agent quarterback, who opted out of his contract with the San Francisco 49ers in August of 2016 and has been jobless ever since, announced his lead role as Nike marketer with a Twitter post on Monday.
— Colin Kaepernick (@Kaepernick7) September 3, 2018
Both the protest and the new Nike campaign have drawn stark criticism.
@Nike for elevating @Kaepernick7 to be its face; the bum was good for 1 season. Conservatives buy sneakers too. Support @newbalance @underarmour or @reebok instead. #boycottNike #IStand,” said congressional candidate Antonio Sabato Jr.
— Antonio Sabáto Jr 🇺🇸 (@AntonioSabatoJr) September 4, 2018
— Larry Elder (@larryelder) September 4, 2018
Nike’s competition had a much better day on the market.
Follow Peter D’Abrosca on Twitter: @pdabrosca
“That Stuff Ain’t Happenin’ with [a] Kamala-Biden Ticket”: Fox Sports Broadcasters Joe Buck and Troy Aikman Mock Military Jet Flyovers on Hot Mic
The top NFL broadcast duo at Fox Sports, Joe Buck and former Dallas Cowboys quarterback Troy Aikman, mocked military jet flyovers on a hot mic during Sunday’s game between the Green Bay Packers and Tampa Bay Buccaneers.
Aikman started it all by saying, “That’s a lot of jet fuel just to do a little flyover.”
“That’s your hard-earned money and your tax dollars at work!” Buck responded sarcastically.
The most notable and outrageous moment came when Aikman then quipped, “That stuff ain’t happenin’ with [a] Kamala-Biden ticket. I’ll tell you that right now, partner.”
Aikman GLEEFULLY talked about how Joe Biden and Kamala Harris will end them. This is disgusting. pic.twitter.com/sCChJAm1TN
— David Hookstead (@dhookstead) October 20, 2020
How embarrassing and disgraceful. The NFL has already lost many conservative fans over its aggressively pro-social justice, pro-Black Lives Matter stance, so I guess it’s no surprise that its commentators and broadcasters would be liberal as well.
Many on social media are reacting to the Buck/Aikman hot mic by saying that the flyovers are a waste of money and that there’s nothing wrong with what they said. Aside from the fact that these flyovers are legitimate training exercises, none of them are focusing on Aikman’s last comment about the “Kamala-Biden ticket” (which is in the wrong order, if you didn’t already notice). He’s implying that flyovers honoring the military are nothing more than a partisan display that Democrats would prefer not to see. That’s shameful.
The Swamp1 day ago
Chinese Billionaire Dissident Leaking Hunter Biden Emails Says There Will Be “10,000” More Pictures After Sex Tape
Riots2 days ago
Anti-American ‘Orders Project’ is Encouraging Military to Stand Down to Leftist Terrorists After the Election
News2 days ago
GOP Senate Candidate Lauren Witzke Alleges That Images of Chris Coons’ DAUGHTER are on Hunter Biden’s Laptop
Immigration4 days ago
Joe Biden Promises Citizenship for 11 Million Illegal Aliens in Third Presidential Debate
Campaign 20203 days ago
#DETROITLEAKS — Anyone with Easily-Forged ‘Voter Registration Receipt’ Can Come to a Precinct, Receive a Ballot, and Vote!
Campaign 20203 days ago
THE FIX IS IN: Pennsylvania Supreme Court Rules Ballots Must Be Approved Even If Signature Does Not Match Registered Voter
Campaign 20202 days ago
Joe Biden: We Have “The Most Extensive and Inclusive VOTER FRAUD Organization”
Riots2 days ago
VIDEO: Riots Surface in San Bernardino After Armed Suspect Resists Arrest, Retrieves Weapon