The multi-national $34 billion retailer has “responded,” in a sense, with a 31 percent jump in sales.
“There was speculation that the Nike/Kaepernick campaign would lead to a drop in sales, but our data over the last week does not support that theory,” Hetal Pandya, co-founder of Edison Trends, tells Marketwatch.
“Nike’s online sales actually grew 31% from the Sunday of Labor Day weekend through Tuesday, as compared with a 17% gain recorded for the same period of 2017,” Marketwatch adds.
Trump is opposed to NFL players kneeling in silent protest of police killings of Black people. He has also called Kaepernick a “son of a bitch.”
Meanwhile, interest in Nike stock is also jumping.
“Nike has grown in popularity among millennial investors after releasing its controversial Colin Kaepernick ad,” Business Insider reports. “A total of 15,191 investors added Nike to their portfolios on Robinhood this week, up 45% from last week.”
“Investors on Robinhood are buying Nike stock 300% more than they are selling, compared to 12% last week,” Robinhood’s data scientist Sahill Poddar told Business Insider on Tuesday. “Investors in Oregon, where Nike is headquartered, are buying the stock 850% more than they are selling.”
The popularity of Nike’s stock has jumped 20 points as well.
Clearly, the company’s long-term strategy is working.
Or, perhaps, maybe they just thought supporting the head of a campaign to stop police killings of unarmed Black people was a good idea.
Peter Navarro warned Trump coronavirus could kill 500,000 Americans — back in January: NYT
President Donald Trump was warned COVID-19 could be catastrophic, according to a bombshell new report published online by The New York Times on Monday evening.
"A top White House adviser starkly warned Trump administration officials in late January that the coronavirus crisis could cost the United States trillions of dollars and put millions of Americans at risk of illness or death," the newspaper reported.
"The warning, written in a memo by Peter Navarro, President Trump’s trade adviser, is the highest-level alert known to have circulated inside the West Wing as the administration was taking its first substantive steps to confront a crisis that had already consumed China’s leaders and would go on to upend life in Europe and the United States," The Times continued.
Oil prices jump on hopes for output cut deal
Oil prices rebounded Tuesday on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market.
Prices have fallen sharply since expectations for a quick deal to cut output levels were dashed, but the rescheduling to Thursday of a meeting of major crude producers boosted sentiment.
US benchmark West Texas Intermediate was up 3.83 percent to $27.08 a barrel in Asian morning trade.
A barrel of Brent crude, the international benchmark, was trading 2.81 percent higher at $33.98.
Prices fell to 18-year lows last week as the market wallowed in oversupply arising from a price war between Saudi Arabia and Russia, which have ramped up production.
Trump and his allies have financial ties to companies that manufacture untested drug he’s touting for COVID-19: report
President Donald Trump's fixation with hydroxychloroquine, a drug used to treat malaria and lupus, as a potential treatment for the novel coronavirus has left many medical experts, including members of his own administration, frustrated. The drug comes with severe side effects ranging from nausea and hair loss to blindness and cardiac arrest; the hoarding of the drug to test it in COVID-19 patients has resulted in autoimmune patients being denied it, and the evidence that it even helps COVID-19 patients in the first place is anecdotal at best.