Nike Shares Soar by $6 Billion USD Following Kaepernick Campaign

Following a record stock price peak.

Tech
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Following an early 3% dip in stock prices, an approximate $4 billion USD loss, the Kaepernick campaign brought Nike shares to an all-time high. Though controversy ignited quickly after the initial reveal, an overwhelming wave of support followed, with fans snapping up Nike gear in droves, immediately boosting the sportswear giant’s stocks.

Since unveiling the ads in early September, Nike’s market value has already ballooned by $6 billion USD. Kaepernick’s campaign is responsible for increasing Nike’s 2018 share values by nearly 5%, yielding a total bump in price of 36% since 2017. For the 30th anniversary of its original “Just Do It” campaign, Nike tapped other star athletes, like Serena Williams, but Kaepernick’s co-sign has thus far proven to be the most impactful by far.

It hasn’t only boosted sales for Nike — Kaepernick’s “I’m With Kap” jerseys sold out almost immediately after the activist launched pre-sales.

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Fortune
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