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Old News: Nike Lost $3.75 Billion in Market Cap After Colin Kaepernick Ad But Gained Much More Since

  • by: Maarten Schenk
  • (Mon, 14 Oct 2019 09:02:16 Z)

Did Nike lose $3.75 billion in market cap since running its controversial ad campaign starring Colin Kaepernick? Yes, it did but the stock has bounced back since and (at the time of writing) the market capitalization of Nike stands at $146.55 billon compared to $131.57 billion just before the campaign ran, an increase of about $15 billion. However that hasn't stopped several dodgy websites from re-running an old article about the short term loss and presenting it as new in order to mislead people and attract clicks for money.

A recent example of the old story being rehashed can be seen here on Apparent Politics where it showed up on October 13, 2019 titled "Nike Loses $three.75 Billion in Market Cap After Colin Kaepernick Named Face of 'Simply Do It' Advertisements - Apparent politics" (archived here) which opened:

Nіkе merely lоѕt about $three.75 bіllіоn іn mаrkеt tор іn thе wаkе оf reporting frее ѕресіаlіѕt NFL quarterback Cоlіn Kaepernick аѕ thе new еѕѕеnсе of іtѕ "Dо whаt nееdѕ tо bе dоnе" аdvеrtіѕеmеnt campaign. It'ѕ thе 30th соmmеmоrаtіоn оf thе notable TV аnd рrіnt ѕроtѕ.

On the hоur оf thіѕ соmроѕіtіоn, thе tennis ѕhое group's іntrа-dау аdvеrtіѕе саріtаlіzаtіоn was $127.82 billion. On Friday, thаt numbеr had bееn $131.57 bіllіоn.

Mаrkеt саріtаlіzаtіоn іѕ thе mаrkеt еѕtіmаtіоn оf a trаdеd оn аn open mаrkеt оrgаnіzаtіоn'ѕ еxtrаоrdіnаrу оffеrѕ.

Screenshot of https://apparentpolitics.com/nike-loses-three-75-billion-in-market-cap-after-colin-kaepernick-named-face-of-simply-do-it-advertisements/

Users on social media only saw this title, description and thumbnail:

Nike Loses $three.75 Billion in Market Cap After Colin Kaepernick Named Face of 'Simply Do It' Advertisements - Apparent politics

Nіkе merely lоѕt about $three.75 bіllіоn іn mаrkеt tор іn thе wаkе оf reporting frее ѕресіаlіѕt NFL

You might have noticed the odd wording in the article and in some browers there seems to be something weird going on with the font as well. That is because the site is using two common techniques to foil plagiarism detection algorithms: article spinning (automatically replacing words with synonyms) and homograph substitution (replacing characters with their visual equivalents in the Cyrillic alphabet).

The original article was published on September 4, 2018 on The Wrap:

Nike Loses $3.75 Billion in Market Cap After Colin Kaepernick Named Face of 'Just Do It'

Nike just lost about $3.75 billion in market cap after announcing free agent NFL quarterback Colin Kaepernick as the new face of its "Just Do It" ad campaign. It's the 30th anniversary of the iconic TV and print spots. At the time of this writing, the sneaker company's intra-day market capitalization was $127.82 billion.

As you can see the original text makes much more sense, correctly identifying the "Just Do It" campaign and not comically renaming it to "Do what needs to be done":

Nike just lost about $3.75 billion in market cap after announcing free agent NFL quarterback Colin Kaepernick as the new face of its "Just Do It" ad campaign. It's the 30th anniversary of the iconic TV and print spots.

At the time of this writing, the sneaker company's intra-day market capitalization was $127.82 billion. On Friday, that number had been $131.57 billion.

Market capitalization is the market value of a publicly traded company's outstanding shares.

Meanwhile the Nike stock has recovered all those losses and then some. A snapshot of today's share price (October 14, 2019) shows a much higher market capitalization ($146.55 billion):

nike.jpg

You shouldn't be getting your stock information from dodgy websites that copy paste old articles and present them as new. If you want to check the current price of Nike shares you can always find the most recent info here: https://finance.yahoo.com/quote/NKE?p=NKE&.tsrc=fin-srch

About the author:

Maarten Schenk is our resident expert on fake news and hoax websites. He likes to go beyond just debunking trending fake news stories and is endlessly fascinated by the dazzling variety of psychological and technical tricks used by the people and networks who intentionally spread made-up things on the internet.  He can often be found at conferences and events about fake news, disinformation and fact checking when he is not in his office in Belgium monitoring and tracking the latest fake article to go viral.

Read more about or contact Maarten Schenk

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