Meet the New Face of Nike, Colin Kaeperni—Aaand, Nike Shares Tank
Isa
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It’s interesting to see American corporations walk the tightrope between political correctness and, you know, making money.
It’s also ironic that progressives, who constantly lament the plight of the unemployed and welfare-reliant, are so effective at influencing major corporations to adopt public stances or associate themselves with causes that cause their company to struggle financially….because, one more time for those of you in the back who don’t understand basic economics, when companies lose money, they can’t employ as many people.
But the progressive narrative that big corporations=evil and not supporting progressive causes also=evil rages on, and companies are so skerd of/desperate to please the outrage mob they’ll shoot themselves in the foot rather than weather a small storm and preserve their company.
Take, the NFL, for example, who is still suffering from the two seasons they put up with Colin Kaepernick, unsure on who, exactly to please, as his kneeling legacy lives on in the league.
Well, he’s Nike’s problem now, who willingly took him on in an epic display of corporate virtue signaling, and they’re already feeling the blow.
The Daily Wire reports:
On Monday, the new face of Nike’s 30th anniversary “Just Do It” campaign was unveiled, and NFL fans will have no problem recognizing him: Colin Kaepernick, who started the protest movement back in 2016, when he declared, “I am not going to stand up to show pride in a flag for a country that oppresses black people and people of color.”
In early trading Tuesday, Nike’s shares dropped by nearly 4 percent, “the biggest intraday slide in five months,” Bloomberg reports. “Nike shares slipped as much as 3.9 percent to $79 as of 9:31 a.m. Tuesday in New York — the biggest intraday slide in five months. They had climbed 31 percent this year through Friday’s close.”
Clearly, Nike Inc. was willing to risk the inevitable backlash, which has already begun among some sports fans — #BoycottNike and videos of fans burning Nike gear are already trending online — to promote Kaepernick’s controversial message.
Ouch!
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