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https://nypost.com/2018/09/10/nike-stock-gains-back-all-losses-after-controversial-kaepernick-ad/

Quote:Nike stock gains back all losses after controversial Kaepernick ad


Nike is sprinting past its critics.


Shares of the athletic apparel and footwear maker on Monday gained back all of the $3.3 billion lost in the immediate wake of its controversial Colin Kaepernick ad.


Nike shares traded as high as $82.44 on Monday — topping their pre-Kaepernick ad levels. Shares of the Beaverton, Ore., company closed at $82.10, up 2.2 percent.


Nike’s “core customer wants them to take a stand on social issues,” NPD sports analyst Matt Powell said.


Edison Trends reported that Nike’s sales skyrocketed by 31 percent from Sept. 2 — the day it launched the ad — to Sept. 4. That compares with a 17 percent gain for the same period in 2017.


The stock’s recovery comes on the heels of a report on Monday that the mayor of a New Orleans suburb is banning the city’s parks and recreation department from purchasing Nike products because of Nike’s “political message” to sell shoes.