Senator Ted Cruz Criticizes Nike as Stock Hits 12-Year Low, Citing 'Go Woke Go Broke' Principle
Senator Ted Cruz (R-Texas) has publicly criticized Nike following a significant drop in the company's stock price, which recently reached a 12-year low. Cruz attributed this decline to Nike's marketing decisions, specifically referencing the company's 2019 decision to withdraw a Betsy Ross-themed shoe. He reiterated his long-standing boycott of the brand, stating that Nike's choice to cancel the shoe, reportedly at the urging of former NFL quarterback Colin Kaepernick, demonstrated an 'America-hate' marketing plan. Cruz, who previously wore Nike athletic wear almost exclusively, switched to other brands after this incident. The company's stock has fallen nearly 80% from its 2021 peak, resulting in a loss of approximately $200 billion in market value. This is not the first time Cruz has voiced his disapproval of Nike's corporate decisions, having joined other conservatives in boycotting the brand in 2019. 
