As we previously reported, Nike decided to side with Colin Kaepernick after he called on the company to pull its “Air Max 1 USA” sneakers from store shelves due to the shoe’s “Betsy Ross Flag” designs which has a connection to an era of slavery.
Nike released a statement saying they made the “decision to halt distribution of the Air Max 1 Quick Strike Fourth of July based on concerns that it could unintentionally offend and detract from the nation’s patriotic holiday.” The company received heavy criticism for backing Kaep. However, it appears Nike didn’t take a huge hit from it after all.
According to TMZ Sports, Nike stock shares jumped after the big controversy. It went up 2 percent, which has goosed the company’s coffers to the tune of $3 billion. On Friday, the news site also noted that shares of Nike stock were up slightly to $86.62. The company’s market value is now $136.38 billion.
“What I’m beginning to learn about Nike… they know how to take controversy and blow it up into advertising,” Kevin O’Leary of Shark Tank fame told TMZ.
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