Nike’s stock paces Dow gainers, erases losses since the Kaepernick ad launch

Shares of Nike Inc. NKE, +2.23% extended gains to rally 2.5% in morning trade Monday, to pace the 21 of 30 Dow Jones Industrial Average DJIA, +0.15% components that are gaining ground. The stock has now rallied 3.4% in four sessions, and is now trading 0.2% above the Aug. 31 close of $82.20, which was where it was just before the athletic apparel and accessories giant unveiled Colin Kaepernick as the face of its new ad campaign. The stock has soared 58% over the past 12 months, while shares of rival Under Armour Inc. UAA, +2.34% have gained 16% and the Dow has climbed 19%.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Source: Read Full Article