Nike stock stumbles after protests to Kaepernick ad campaign

Nike shares went red after the Tuesday opening bell amid a social media storm after the footwear giant announced that former San Francisco 49ers quarterback Colin Kaepernick would be one of the faces of a new ad campaign.

Kaepernick, a polarising figure in the sports world since he refused to stand for the American national anthem during a preseason NFL game to protest racial injustice and police brutality in America, shared a photo via Twitter that was part of the 30th anniversary of Nike's 'Just Do It' campaign.

While the likes of Serena Williams, LeBron James and Odell Beckham Jr are also featured in the ads, Kaepernick's inclusion led the hashtags #NikeBoycott and #JustBurnIt to become top trenders on social media.

When announcing the deal, Nike said Kaepernick, who just scored a preliminary but important win in his collusion case against the NFL, was "one of the most inspirational athletes of this generation".

Kaepernick and former 49ers colleague, Eric Reid, who joined the quarterback in his protests, have not been signed up by an NFL team since, leading both to file collusion grievances against NFL owners.

As well as the mushrooming social media outpourings against the company's move by those for whom the athlete taking a knee during the playing national anthem was an insult, there was also significant support.

"Colin Kaepernick drew our collective attention to the problem of continued racial injustice in America," said former CIA director John Brennan on Twitter.

"He did so not to disrespect our flag but to give meaning to the words of the preamble of our Constitution- in order to form a more perfect union."

As of 1555 BST, Nike shares had slumped 2.66% to $80.01 each.

Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO

— Colin Kaepernick (@Kaepernick7) September 3, 2018