Nike rakes in $3 billion after Colin Kaepernick calls foul on shoe

On Tuesday, it was reported that Kaepernick, the 49ers quarterback-turned-social justice activist, requested Nike to go on the Fourth of July sneaker because of its objectionable symbolism. Nike acquiesced though some product had been dispatched to retailers.

According to TMZ Sports, Nike stock shares have since gone up 2 %, which has goosed the company’s coffers to the tune of $3 billion.

On Friday, TMZ reported shares of Nike stock had been up barely to $86.62. The agency’s market price is now $136.38 billion.

“What I’m beginning to learn about Nike,” Kevin O’Leary of Shark Tank fame suggested TMZ, “they know how to take controversy and blow it up into advertising.”

Nike moreover observed a bounce closing September when it produced an enterprise that features Kaepernick.

Kaepernick objected a top-level view of a 13-star Betsy Ross-era American flag on the heel of the Flag Air Max 1 USA. Kaepernick was concerned that the identical picture is utilized by white nationalist groups.

Originally priced at $120, the shoe is selling for as rather a lot as $2,500 online.

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