Markets go up and markets go down. Fact is, the timing of NIKE's contract signing of Kaepernick (Sept 4th) coincides perfectly with NIKE's recent stock declines. The Kaepernick signing announcement was made the first week of September.....when NIKE's stock was at an all-time high. According to this article, NIKE's stock price fell 3% in the first hour of trading.
https://www.mlive.com/news/us-world/...ernick_to.html
I guess we'll never know for certain if NIKE's 14% decline in stock value was caused by the overall market decline, or by the Colin Kaepernick signing announcement, or by some combination of both events. I'm guessing the latter. I do know I've personally bought two pairs of BROOKS running shoes since that time, and I won't be buying any NIKE's for a while.
NIKE shoes suck. Brooks and New Balance all the way.
Actually have a pair of ASICS now. Held up well.
You clearly know nothing about stocks. Investors don’t act rationally all the time. People respond to volatility as well. There was a brief selloff at the time of the statement but it completely recovered within a day as the market processed the information.
Nike stock kept going up through September and then started to go sideways and down in October just like almost all of the market.
Oh goodie.....now we can get stock advice from a cheap, country lawyer named Guisse.
Fact is, investors don't always act IMMEDIATELY. Much of NIKE's stock is owned by large ETF's, Mutual Fund's, Hedge Funds, Index fiunds, etc...not to mention large Pension Plans and other Retirement Plans. All of that stuff doesn't move immediately, and it can easily take a few days for people to contact their brokers/advisors and tell therm what they think. What we DO KNOW is that NIKE'S stock peaked on Sept 21st (see Yahoo Finance table I already posted), and has gone steadily downhill -15.67%, ever since. That's a fact. Of course, if you knew anything about stocks, you would know this.
You didn't have to go to the link: I quoted that same passage here. It means that the market in general has declined. While stock prices have declined, the sales at Nike have steadily increased. Sure, the Kaepernick ad is only a small part of their overall strategy. The point is that Nike doesn't give a rip about your opinion...and others like you.
I wouldn’t suggest that anyone take stock advice from me. But we were all watching Nike stock the day and week of the announcement because someone created a thread on it.
The initial movement was down as it was a controversial announcement and some investors are going to flee controversial stocks when it doesn’t fit their risk profile. In the week following the announcement people flocked back to the stock and the price completely recovered and set new all time highs. Sales grew.
Nike stock, like most everything else is going through price adjustments over the past several months with all the market volatilty. This month has been particularly crazy with the DJIA making triple digit moves in all but 3 trading sessions. These moves are based on shifting reactions to trade disputes, larger economic growth indicators, inflation and interest rate fears, geopolitical fears, etc.
The proof of the impact of the Nike endorsement will be much clearer in Nike’s earnings announcement that is expected this coming week.
A man of your intellectual abilities is capable of a much better response to Sunday Jam. You just did a disservice to yourself and everyone on this board.
I'm from Hawaii, dude. Nike doesn't care about my opinion either. True dat. It's all marketing and the Kap ad is completely in-sync with the marketing that built Nike. Kaepernick is a great athlete who has never commited a crime. He's never done anything disreputable. He merely took a political stance against racial injustice.
How could I rephrase my original mistake? Oh, I know: Nike doesn't really care about opinions. They care about long term marketing. Your opinion is just as important as mine...including this point. Neither is important.