Nike Shares Drop on Backlash at Colin Kaepernick Featured in Campaign

Shares of Nike were seeing some losses on Tuesday after Wall Street reacted to the backlash the sports apparel and shoe company has received over Colin Kaepernick in its campaign.

Kaepernick is one of the athletes that is featured in Nike’s 30th anniversary “Just Do It” campaign and many aren’t happy that he is.

Kaepernick started a big controversy over the National Anthem as he kneeled during the song instead of standing as a protest over how minorities are treated in the U.S.

In less than 24 hours since Kaepernick first revealed his spot in the campaign on Twitter, Nike received more than $43 million worth of media exposure.

Kaepernick, a former 49ers quarterback, tweeted an image from the campaign on Monday saying: “Believe in something, even if it means sacrificing everything.”

According to Apex Marketing Group, a majority of the exposure was neutral or positive.

Other athletes in the campaign include Serena Williams, LeBron James, Lacey Baker, Shaquem Griffin and Odell Beckham Jr. will be featured in the campaign as well.

“I am not going to stand up to show pride in a flag for a country that oppresses black people and people of color,” Kaepernick told NFL Media back in 2016.

Kaepernick is currently not signed with any football team.

Nike shares fell as much as 3.9 percent in New York Tuesday.

Disclaimer: We have no position in Nike Inc. (NYSE: NKE) have not been compensated for this article.