RESOLVING THE LEDGER
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See the full story · 2 sourcesSen. Ted Cruz, R-Texas, is again dunking on a popular sports brand as the company’s stock price hits a 12-year low.
Cruz joined in on social media criticism of Nike, the Swoosh-emblazoned brand whose stock price has been on a steady decline for years.
The lawmaker responded to conservative social media influencer Douglass Mackey’s list of reasons why Nike’s stock was suffering in a callback to his own boycott of the brand several years ago.
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"Sad & predictable," Cruz posted on X, where he reiterated that Nike’s decision to nix its Betsy Ross themed shoe was how the company "lost me."
"For my whole life, I wore nearly 100% Nike for athletic wear," Cruz said. "Kaepernick pissed me off, but when they cancelled the Betsy Ross shoe it showed that their marketing plan was America-hate. I went out & bought brand new shoes, shorts, t-shirts."
"Turns out I wasn’t the only one," he continued. "#GoWokeGoBroke."
Nike’s stock price hit a 12-year low earlier this week, dropping nearly 80% since the company’s all-time high in 2021.
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The yearslong tumble downward saw nearly $200 billion in market value erased for the company, which five years ago saw its share price hit an all-time high of $177.51.
It’s also not Cruz’s first foray into bashing the brand.
In 2019, Cruz joined several conservatives to boycott Nike after the company opted to dump its planned Betsy Ross-themed shoe.
Former NFL quarterback Colin Kaepernick , who earned the ire of conservatives for sitting and kneeling during the national anthem in an act of protest against police brutality a decade ago, reportedly urged the company to drop the product.
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He argued that the Revolutionary-era flag, with 13 white stars in a circle on a blue backdrop, was a symbol that had been adopted by White nationalist groups and a reminder of a time when Black people were enslaved.
Nike said in a statement at the time that it opted to yank the shoe, which was set for a July Fourth release, because of "concerns that it could unintentionally offend and detract from the nation's patriotic holiday."
Cruz at the time blasted the company and dumped his Nike gear.
"It's a good thing @Nike only wants to sell sneakers to people who hate the American flag.... @NFL #HappyFourth," he said on X.
He wasn’t the only major political figure to take a shot at the brand. Then-Senate Majority Leader Mitch McConnell, R-Ky., criticized the decision to pull the Betsy Ross-themed shoe, and countered that if any other company had the same idea, he’d be the first in line to buy.
"If we’re in a political environment where the American flag has become controversial to Americans, I think we’ve got a problem," McConnell said.
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