Nike Loses $4 Billion On First Day Trading Post-Kaepernick, Trump Responds
Washington, DC - Nike's stock dove in its first day of trading after announcing their new ad campaign promoting Colin Kaepernick, in what amounts to be about a $4 billion loss.
President Trump, who has been very vocal about Colin Kaepernick's anti-American flag protests, has responded to the new campaign.
Nike's new ad campaign features Kaepernick with the words "Believe in something. Even if it means sacrificing everything."
Kaepernick's "sacrifice" is an apparent reference to the former NFL player's inability to get re-hired after voluntarily quitting the NFL.
The "believe in something," is an apparent reference to Kaepernick calling police officers murderers, and kneeling in protest to the American flag.
“I think it’s a terrible message. Nike is a tenant of mine. They pay a lot of rent,” President Trump told The Daily Caller.
“But I think it’s a terrible message that they’re sending and the purpose of them doing it, maybe there’s a reason for them doing it,” President Trump told The Daily Caller. “But I think as far as sending a message, I think it’s a terrible message and a message that shouldn’t be sent. There’s no reason for it.”
“As much as I disagree with the Colin Kaepernick endorsement, in another way — I mean, I wouldn’t have done it,” President Trump added. “In another way, it is what this country is all about, that you have certain freedoms to do things that other people think you shouldn’t do, but I personally am on a different side of it.”
Nike's stock dropped $2.60 per share by the end of trading on Tuesday over reasonable fears that backing Kaepernick could impact the business.
Analysts have suggested the the promotion will be a positive move for the company, winning over social justice warriors who had been hammering the company for alleged inhumane child labor practices.
Blue Lives Matter has asked its over 5 million monthly readers to boycott the company.
“The choice of Colin Kaepernick by Nike to be 'the Face' of their 30th Anniversary Campaign is an affront to every American law enforcement officer," Blue Lives Matter's National Spokesman, Randy Sutton said.
"Nike’s pandering to Kaepernick’s brand of politically correct hate mongering against those who serve this Nation behind a badge and the disrespect he has sown to the symbols of love of our country reveals how corrupt Nike has become," Sutton added. "When an organization is more concerned with profits than with the values of justice and service that thousands have given their lives to preserve, they reveal what they truly stand for....greed and dishonor.”
As an organization, Blue Lives Matter tends to avoid calling for boycotts. A company needs to do something exceptional to prompt a boycott call from Blue Lives Matter.
Blue Lives Matter has previously called for only one other boycott, in response to Ben & Jerry's marketing campaign promoting the false narrative of Black Lives Matter.
Police officers are actually getting assassinated over this false, anti-police messaging. When companies push the outrageous message that police are targeting black people for violence, they are putting officers' lives at risk to boost their profits.
By showing these companies that they'll only lose money by defaming police officers, we take away the financial incentive for these marketing campaigns.
Kaepernick started kneeling on the field during the National Anthem in the pre-season of 2016, protesting the flag over allegations that American police officers are racist killers.
“I am not going to stand up to show pride in a flag for a country that oppresses Black people and people of color," Kaepernick said.
Kaepernick even sported socks depicting police officers as pigs along with his Nike shoes.
The protest later expanded even further to be a protest of President Donald Trump by some after the president spoke out against the protest.
Kaepernick opted out of his contract with the San Francisco 49ers after the 2016 season and sat out the 2017 NFL season when no other teams signed him.
His teammate Eric Reid was a vocal supporter of the anthem protests. Reid also didn't sign again with the 49ers, and became a free agent.
Both players have since been unemployed and have filed a lawsuit against the NFL alleging a conspiracy to keep them out of the game in retaliation for the upheaval caused by the kneeling.