Nike shares fall as consumer backlash over Colin Kaepernick ad grows


Nike Inc lost USD$3.75 billion in market cap Tuesday as calls for a boycott of the sportswear giant gained traction on social media following its choice of Colin Kaepernick as a face for the 30th anniversary of its “Just Do It” slogan.

Over 30,000 people were tweeting with the hashtag #NikeBoycott on Tuesday morning U.S. eastern time, making it among the top trending topics on Twitter. Some posted images of themselves burning and ripping their Nike shoes and apparel.

 

 

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