Nike Stock Closes At An All-Time High Following The Signing Of Colin Kaepernick
Last week, it took just a few hours for upset folk to take to social media and cause an all-out boycott of Nike products following their decision to sign Colin Kaepernick and make him the face of their 30th-anniversary ‘Just Do It’ campaign.
Shoes were burned, Nike swooshes were cut off, and the hashtag #BoycottNike would be trending for a few days. As far as their stock went, it dropped almost 3% shaved more than $4 billion off of the company’s market value.
It seemed as if the company had made a grave mistake. Not exactly. More than a week after the apparel and footwear giant made their controversial decision to sign the former 49ers QB, the company had recovered the stock losses it experienced as shares rose about half a percentage point to close at $82.63
By the end of business on Wednesday, Nike would close at $83 a share, an all-time high for the company.
Today, Nike stock closed at $83/share, an all time high for the company. pic.twitter.com/9z8DX5jYIL
— Ally Maynard (@missmayn) September 13, 2018
Analysts believe Nike’s stocks to soon climb into the $85 to $95 range.