Nike - Go Woke Go Broke

So Nike has chosen Colin Kaepernick as the face of it's new ad campaign. That decision was immediately criticized and made fun of.

Some of the humor was very dark.

Some of it was pointed and kind of got to the root of the issue at hand.

They say that all press is good press. I disagree. When Iran comes out in support of your new ad campaign - maybe, just maybe - you have a problem.

It will be interesting to watch Nike stock today (NYSE: NKE). My guess is supporters try to rally the stock but it closes slightly down and the $82 per share will be it's high water mark for a long, long time to come.

Nike has ruined any goodwill they had with many people with this ad campaign. And that includes me. I often go to the Outlet Stores in Lee MA. Mainly for the Nike and Under Armor shops. I've spent hundreds of dollars there in the past two years. But not any more.

I'm not going to throw out all my Nike clothing out of spite. But I won't be buying anything new. I have a pair of Nike basketball sneakers that was was going to replace this fall. I'll still replace them. But just not with a new pair of Nike's. I think many, many others will react just as I am. Nothing loud to voice our displeasure. We'll just stop buying their overpriced products.

Their price stock will suffer as a result. That's our form of protest.

I feel bad for Tiger Woods.

EDIT: Nike stock finished the day down 3.16% or $2.60 per share.