Nike’s stock closed at an all-time high on Thursday at $83.47, according to a report from Bloomberg, just days after the company’s stock took a noticeable dip.
Nike’s record closing comes less than two weeks after their polarizing “Just Do It” ad campaign featuring Colin Kaepernick debuted, but as Bloomberg notes, “it will likely be months, if not longer, until anyone can fully measure the business impact” of their partnership with the free agent QB.
That said, Edison Trends show Nike sales tracking well above last year in the days since the Kaepernick ad. Their data only measures online sales, and doesn’t account for people who are committed to boycotting Nike over time, but there was a significant increase as supporters immediately purchased Nike products.
Per Bloomberg: “Edison scanned receipts from more than 200 online retailers (including Nike.com) and found that that Tuesday after Labor Day, for example, the first full day after Kaepernick’s ad went viral, Nike purchases were 22 percent higher than the same day in 2017. On Wednesday they were 42 percent higher, and Thursday they were 23 percent higher. They remained above 2017 levels through the end of the week.”
LeBron James, who has signed a lifetime contract with Nike, took to twitter after Nike closed at an all-time high to reaffirm that The Swoosh is on fire right now.