The heat Nike has taken over its controversial advertising
campaign featuring former NFL star Colin Kaepernick seems to have
had another effect: burnishing the iconic brand’s appeal to
Nike shares have surged 36 percent on the year, making the company
the top performer on the Dow’s index of 30 blue-chip stocks. The
run-up includes a nearly 5 percent increase since Nike’s Labor Day
announcement that Kaepernick would be featured in its campaign,
adding nearly $6 billion to the company’s market value.
The stock continues to hover near an all-time high, which it
reached in mid-September only weeks after some Nike customers
publicly burned their shoes to express their displeasure at
the new ad.