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Nike Stock Hits Record High, LeBron James Gleefully Rubs It In

Nike Stock Hits Record High, LeBron James Gleefully Rubs It In
Nike shoes are displayed at a Nike store in Manhattan on Sept. 5, 2018, in New York, New York. (Spencer Platt/Getty Images)

By    |   Friday, 14 September 2018 01:04 PM

Nike's stock price closed at an all-time high of $83.47 on Thursday, and the spike had LeBron James rubbing it in the faces of consumers who protested the use of Colin Kaepernick in the company's advertising campaign, The Score reported.

Taking to Twitter, Los Angeles Lakers superstar and Nike endorser reveled in the company's success and taunted those who called for a boycott of the brand and burned their Nike shoes. Using emojis and hashtags to make his point, James quipped, "Well I mean I guess WE'RE on (fire)."

Nike has been in the spotlight since debuting its controversial "Just Do it" campaign last week featuring Kaepernick, the former San Francisco 49er who sparked controversy for kneeling during the national anthem, as the company's new spokesperson.

Critics have since called for a Nike boycott, with President Donald Trump at the helm of the movement.

"Nike is getting absolutely killed with anger and boycotts," Trump tweeted. "I wonder if they had any idea that it would be this way? As far as the NFL is concerned, I just find it hard to watch, and always will, until they stand for the FLAG!"

As the ordeal gained momentum, customers took to burning their shoes in protest of having Kaepernick included in Nike's advertising, WNBC noted.

However, rather than dent sales, the controversy seemed to have the opposite effect.

Nike shares took a 3 percent dip Tuesday as #NikeBoycott began trending, CNN Money reported, but by the end of the week sales had increased dramatically.

"Controversial endorsements tend to generate a lot of hype," said Marshal Cohen, chief industry analyst of market research firm The NPD Group, according to NBC News. "These kinds of statements and brand partnerships make for a big impact on brand selling."

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Nike's stock closed at a record high of $83.47 on Thursday, and LeBron James touted the price hike with a quip on Twitter.
nike, stock, record, lebron james
Friday, 14 September 2018 01:04 PM
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