The stock reached its all-time closing high of $177.51 on November 5, 2021, but market struggles have driven the price down to a 12-year low of $35.51. This multi-year retreat has erased a decade of market gains and led to the company’s impending removal from the prestigious S&P 100 index.
Why?
Nike went woke.
The primary marketing campaigns, product decisions, and financial commitments reflecting this shift since 2018 include:
High-Profile Marketing Campaigns:
Colin Kaepernick Partnership (2018): Nike launched its “Dream Crazy” campaign featuring the former NFL quarterback, known for kneeling during the national anthem to protest racial injustice. The campaign tagline read: “Believe in something, even if it means sacrificing everything.”
Pride Month & Transgender Visibility (2018): The brand released commercials celebrating transgender ballroom dancer Leiomy Maldonado as part of its Pride Month initiatives.
“Dream Crazier” Campaign (2019): Narrated by Serena Williams, this Super Bowl commercial directly challenged traditional gender stereotypes and male-dominated culture in professional sports.
Dylan Mulvaney Promotion (2023): Nike partnered with transgender influencer Dylan Mulvaney for a paid Instagram campaign to promote women’s sports bras and leggings, drawing intense scrutiny from conservative commentators.
Product and Financial Moves:
Betsy Ross Flag Sneaker Cancellation (2019): Nike pulled a planned Air Max 1 USA sneaker featuring the early American flag after Colin Kaepernick raised concerns about its historical associations.
Black Community Financial Commitment (2020): Following widespread racial justice protests, Nike launched a “Don’t Do It” video campaign and committed $40 million over four years to support organizations serving Black communities in the U.S.
Youth Sports Funding: Nike funded research and community programs centered around supporting transgender and non-binary youth athletes.
Conclusion: go woke, go broke.
Now here is where it gets interesting.
I couldn’t have predicted Nike would drop because of being woke. It could have gone up or down.
The bottom-line conclusion? Feel free to dislike woke as much as I do, but don’t let your personal analysis govern your trading decisions.
Use trend following instead.
P.S. Building the discipline to evaluate your execution and not just your results is one of the hardest things in trading. The Trend Following Mastery course is built on that foundation, and the Bull, Bear & Black Swan Report reinforces that thinking every month. If you’d like a purchase link for the Report, just email us at [email protected].
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 76+ countries.
Also jump in:
• Trend Following Radio Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.