Houston rapper Travis Scott is just doing it. The hip-hop superstar has reminded fans he’s still all in when it comes to supporting sports apparel giant Nike.
This week, King James reacted to Nike’s stock going up to an all-time high following its game-changing Colin Kaepernick Just Do It ad campaign launch.
— LeBron James (@KingJames) September 14, 2018
According to reports, Nike stock went up over $80 this week 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)