Full Breakdown
Ted Cruz Links Nike’s Stock Slide to “America-Hate” Marketing
8/20/2026, 2:32:06 AM
Core Event
Sen. Ted Cruz (R-TX) used his X account to argue that Nike’s “America-hate” marketing choices are responsible for the company’s share price falling to a 12-year low. Cruz referenced a list from conservative influencer Douglass Mackey that cites Nike’s Kaepernick campaign, the cancellation of a Betsy Ross-themed sneaker, and collaborations with transgender influencer Dylan Mulvaney as factors undermining the brand. He said the Betsy Ross shoe pull was the final trigger that made him abandon the brand after a lifetime of wearing Nike apparel.
Background & Context
Nike has faced repeated cultural-political backlash. In 2019 the company scrapped a planned July Fourth release featuring the Revolutionary-era flag after pressure from former NFL quarterback Colin Kaepernick and other critics. Earlier campaigns spotlighting Kaepernick and recent partnerships with transgender influencers have also drawn ire from conservative commentators, who view the moves as politicizing the brand.
Data & Statistics
- Nike’s stock price reached a 12-year low, down roughly 80 % from its 2021 peak of $177.51 per share.
- The decline erased about $200 billion in market value, according to the reporting.
Official Statements & Responses
The company framed the decision as a precaution to avoid alienating consumers during Independence Day.
Verbatim Quotes
- “For my whole life, I wore nearly 100% Nike for athletic wear,” — Sen. Ted Cruz, U.S. Senator
- “If we’re in a political environment where the American flag has become controversial to Americans, I think we’ve got a problem,” — Majority Leader Mitch McConnell, U.S. Senate
