Sen. Cruz Critiques Nike’s Marketing Strategy as Stock Prices Decline

Recently, Senator Ted Cruz from Texas voiced his discontent with Nike, attributing the brand’s falling stock prices to what he described as a “woke” marketing approach that he believes reflects a disdain for America.

Over the last year, Nike’s stock has plummeted by nearly 50%, standing at $40.10 per share. This represents a staggering 78% decrease from its record high of $179.10 in November 2021, as reported by financial services firm Robinhood.

In a post on X, Cruz stated that Nike’s downward trend is “both sad and predictable.” He shared a sentiment echoed by conservative influencer Douglas McKee, who listed incidents he believes contributed to Nike’s decline, including the cancellation of Betsy Ross-themed sneakers—which Cruz highlighted as a critical turning point.

“I have worn Nike almost 100% of my life in athletic clothing,” Cruz remarked in his post. “Kaepernick pissed me off, but canceling Betsy Ross shoes showed me that their marketing plan hates America. I went out and bought brand new shoes, shorts, and a t-shirt. Turns out I wasn’t the only one. #GoWokeGoBroke.”

McKee expanded on the reasons for Nike’s struggles, pointing to several high-profile controversies. He referenced the involvement of Colin Kaepernick in a significant marketing campaign, Nike’s collaboration with transgender influencer Dylan Mulvaney, and the brand’s decision to cut ties with NBA player Kyrie Irving due to his stance on the coronavirus vaccine.

Cruz and McKee’s remarks come amid troubling news for Nike, as the company’s stock recently fell to its lowest level in 12 years. Critics are also highlighting potential issues with product quality and innovation, suggesting that Nike may be overly reliant on retro releases instead of focusing on high-quality, classic products.