Nike is sprinting past its critics.
Shares of the athletic apparel and footwear maker on Monday gained back all of the $3.3 billion lost in the immediate wake of its controversial Colin Kaepernick ad.
Nike shares traded as high as $82.44 on Monday — topping their pre-Kaepernick ad levels. Shares of the Beaverton, Ore., company closed at $82.10, up 2.2 percent.
Nike’s “core customer wants them to take a stand on social issues,” NPD sports analyst Matt Powell said.
Edison Trends reported that Nike’s sales skyrocketed by 31 percent from Sept. 2 — the day it launched the ad — to Sept. 4. That compares with a 17 percent gain for the same period in 2017.
The stock’s recovery comes on the heels of a report on Monday that the mayor of a New Orleans suburb is banning the city’s parks and recreation department from purchasing Nike products because of Nike’s “political message” to sell shoes.
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