Nike's Stock Regains Ground After Kaepernick Ad Controversy
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Nike Inc.’s stock is close to recovering from the Colin Kaepernick-induced sell-off.
The company saw $4.16 billion cleaved from its market capitalization following the release of a new ad campaign featuring the controversial quarterback-turned-activist. The sportswear company’s shares briefly regained the full loss in early trading on Monday when the stock price gained as much as 2.67 percent as of 11:00 in New York. Wedbush Securities raised its price target for the stock from $85 to $90 on Monday.