In the day or two after the new deal between Nike and Colin Kaepernick was announced, the Kaepernick naysayers were taking delight in the fluctuation of the stock price, insisting that the initial drop meant that investors were bailing on the brand. Even though most of the other publicly-traded companies in the same industry saw their stock prices drop, too.
To the extent that such short-term movements have clear and direct relevance to the Kaepernick deal (and they likely don’t), Nike shares closed on Thursday at an all-time high.
On Tuesday, September 4, Nike closed a $79.60 per share. On Thursday, the closing price hit $83.47.
That’s a 4.8-percent increase, and it reflects an appreciation in the value of the company by roughly $5 billion.
Again, it’s difficult if not impossible to attribute the climb to Kaepernick. But those who don’t like Kaepernick (and by extension Nike) opened the door to the stock-price argument by obsessing over the temporary decline. Those same voices are conspicuously silent now.
If only those voices would remain conspicuously silent for good.