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Ted Cruz Blames Nike Marketing for 12-Year Low

8/20/2026

40 4 Full Breakdown

Summary

Story summary

Sen. Ted Cruz (R-TX) blamed Nike’s marketing choices for its stock hitting a 12-year low on Monday.
He cited the July Fourth shoe cancellation and Nike’s Kaepernick ad campaign as reasons for abandoning the brand.
Nike’s share price has fallen nearly 80% since its 2021 high, wiping out about $200 billion.
Senate Majority Leader Mitch McConnell (R-KY) criticized the pull, saying he would buy the shoe if a firm released it.

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Story summary

Sen. Ted Cruz (R-TX) blamed Nike’s marketing choices for its stock hitting a 12-year low on Monday.
He cited the July Fourth shoe cancellation and Nike’s Kaepernick ad campaign as reasons for abandoning the brand.
Nike’s share price has fallen nearly 80% since its 2021 high, wiping out about $200 billion.
Senate Majority Leader Mitch McConnell (R-KY) criticized the pull, saying he would buy the shoe if a firm released it.