Brace for bad news, bigots: Nike stock closed at $83.47 on Thursday, an all-time high for the apparel company.
The news comes just 10 days after Nike unveiled Colin Kaepernick as the face of a new ad campaign celebrating the 30th anniversary of its iconic “Just Do It” slogan.
In the immediate aftermath of the news, the internet got a few good laughs out of high-profile stories featuring Kaepernick haters burning their Nike shoes and hats and shirts, and local mayors attempting — with hilarious results — to ban Nike products.
Oddly, setting ablaze shoes you’ve already paid for and cutting Nike swoosh-sized holes in your own socks isn’t having the intended effect on the company’s bottom line (though adding ventilation to your socks is a proven way of combating chronically warm ankles.)
In the two or three days immediately after the announcement, Nike’s stock did decline by a marginal amount, as investors waited to see what the public’s reaction would be. Conservatives like self-employed sports watcher Clay Travis were quick to blame the decline on the Kaepernick ad campaign, but as Nike’s stock quickly rebounded — and then some — those same luminaries were preaching restraint, suggesting that it’s too soon to know what the financial implications will be.
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