Grammy-winning rapper T.I. is loving all of the success Nike is enjoying right now. The King of the South has celebrated the iconic sports apparel brand’s stock soaring since launching its new Colin Kaepernick-featured campaign.
Tip went to Instagram this past weekend to geek out over the company’s massive success.
Earlier this month, NBA champion LeBron James celebrated Nike’s stock price nearing an all-time high.
— LeBron James (@KingJames) September 14, 2018
As of mid-September, Nike stock went up over $80 for the first-time ever in its history.
Nike stocks closed at $83.47 Thursday for the first time ever just eight days after President Donald Trump declared that the company was “getting absolutely killed” because of “anger and boycotts” over its ad campaign. On Friday, shares closed in regular trading at $83.49, although the stock price slipped a bit in after-hours trading. (Huffington Post)
In addition to the stock leveling up, the iconic brand also experienced a huge jump in Instagram followers courtesy of the Kaepernick ad going viral.
Nike added roughly 170,000 Instagram followers around the timing of the release of its ad campaign, Wedbush Securities analyst Christopher Svezia said in a research note Friday. “Indeed, [Nike] management knows its American consumer well and the campaign featuring Mr. Kaepernick is a positive for the brand and likely its sales,” Svezia said. The company’s shares hit a record high of $83.90 on Thursday. Wedbush placed a 12-month price target of $90 a share on the stock. (CNBC)