Nike Just Did That: Colin Kaepernick Ad Sends Stock Prices Through The Roof!
This is a game of chess, not checkers! It looks like #Nike's choice to make Colin Kaepernick the star of their recent "Just Do It" campaign was a good move for the brand after all. The company's stock prices reached $83.90 this afternoon- an all-time high for Nike.
Immediately following the release of the ad, Nike stock saw a 3% dip to less than $80 per share. "Stand-for-the-flag" #Twitter went nuts and vowed to never buy Nike products again. Some people were BIG mad and even posted photos of them cutting socks and burning shoes online.
Contrary to the backlash, Edison Trends revealed that Nike's online sales increased by 31% two days after the ad was released and made double the revenue in the September 2-4 period than it did last year. CNBC reported that the ad campaign, which also featured stars like Serena Williams and LeBron James, created $163.5 million worth of buzz in just three days.
Nike's Instagram account also gained over 170,000 #Instagram followers after the ad went public. Nike "Just Did It".