Trump Celebrates Nike Boycott: They’re Getting Killed

Business Insider reports:

President Donald Trump has once again weighed in on Nike’s polarizing new ad featuring Colin Kaepernick. It’s true that Nike has been the target of anger from certain customers, with many on social media supporting a boycott and burning their Nike apparel in protest. Whether that anger is outweighed by the positive reaction for others will remain to be seen, but most business and brand observers say that Nike likely weighed the risks of a polarizing ad like this before releasing it. They decided to release it anyway, which makes sense when you look at Nike’s core demographic of young, diverse urbanites.

MarketWatch reports:

On Tuesday, shares of Nike shed 3.2%, leading declining components on a down day for the Dow industrials, suffering the sports-apparel company’s worst daily drop since April 2, according to FactSet data.  Shares of the retailing giant – a retail tenant of the president’s real-estate business – were attempting to rebound in early Wednesday action, posting a gain of 0.7%. Thus far this year, Nike shares have climbed 28%. The company’s gains outstrip respectable year-to-date returns for the broader market.