Nike is doing just fine. Rick Strom and Robert Littal break it down. Give us your thoughts in the comments below!
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“As the old saying goes, “There is no such thing as bad publicity.” While this is not always true as bad publicity often is a real threat to companies, it is very much true for Nike Inc. (NKE) in the wake of their controversial Colin Kaepernick ad campaign. While Wall Street reacted to the news by sending Nike down a little over 3% on September 4th, 2018, I believe Nike is bulletproof against any real damage as a result of the way the company is structured. Although the stock has regained the 3% it initially lost as of September 11th, 2018, investors may still be nervous about negative consumer sentiment moving forward. I am confident, however, this is nothing short of a strong, intelligent move for Nike that is already paying off in terms of increased sales and boosted social relevance.”
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