Republicans have been big mad since Nike decided to pull its Betsy Ross-inspired Air Max 1 USA sneakers. But it turns out that being on the right side of history just netted the footwear and apparel company a cool $3 billion in market value.
Who knew pissing off conservatives could be so lucrative?
Forbes reports that Nike shares have surged ever since Colin Kaepernick intervened when the company announced its plans to drop a pair of sneakers prominently featuring a throwback Betsy Ross flag on the back.
Never one to bite his tongue, the 31-year-old noted that revisiting an era defined by its relation to slavery would be a bad look. Thankfully, Nike took heed and investors rewarded their decision. Since canceling the sneakers, Nike’s stock has increased by two percent, which equates to roughly $3 billion in market value.
When Nike first made the announcement to pull the sneakers, a number of prominent Republicans took turns embarrassing themselves with public outcries. Texas Sen. Ted Cruz accused Nike of only wanting to sell sneakers “to people who hate the American flag” while Sen. Josh Hawley of Missouri called Nike “anti-American, pure and simple.”
I guess Nike can take its anti-American ass to the bank. Its relationship with Kaepernick has been a resounding success thus far and only looks to make more money moves moving forward.