Every time white supremacists show themselves it only makes people who aren’t racist just embrace the brand more. Imagine being upset at a company who doesn’t want to give off the impression that slavery was ok.
NIKE was not affected at all by the so-called boycott.
The heat Nike is taking over the controversy surrounding Colin Kaepernick and the Betsy Ross Flag Shoe is having another effect … enhancing the brand’s appeal to investors.
Nike shares are surging in the wake of the company’s decision to recall its special Betsy Ross Flag Air Max 1 USA sneakers after Kaepernick complained the 13-star flag design was offensive because it’s been co-opted by several white nationalist groups.
Since Nike pulled the plug on the sneakers following Kaepernick’s objections earlier this week, Nike shares have seen a 2 percent increase since Tuesday, adding nearly $3 BILLION to the shoe giant’s market value.
Friday afternoon, trading Nike shares were up slightly to $86.62 and the company’s market value is now $136.38 billion.
Funny how doing the right things works out sometimes for you.
Flip the page for more about the controversy.