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Nike’s Stock Just Hit A Record High, Up $7B Since Ad Release

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Oh, how the Nike plot thickens!

We barely got done posting how Twitter reacted to Nike’s controversial ads that drew ire from the President. 

Mass social media cries to #BoycottNike aside, Nike scored big on the campaign, earning mad publicity value, ESPN’s Darren Rovell reported on Twitter earlier in the week.

And just today news broke that Nike’s stock went crazy on the heels of the successful campaign.

Nike hits record high

Nike shares rose to $83.90—smashing its previous record—before closing at $83.47 yesterday. (It’s $83.49 as of this post.)

In hard dollars and cents, since Labor Day, Nike’s market value has jumped from $127B on Sept. 3 to $133.9B—a $7B heist in less than a week.

What led to all this?


Sorkin: Nike’s Kaepernick ad decision was based on ‘attracting big name athletes’ from CNBC.

So back in 2016, then San Francisco 49’ers quarterback Kaepernick began kneeling during the national anthem of each NFL game to protest police brutality and social injustice.

(A particularly brutal stretch that summer saw three unarmed African American men murdered by police three days in a row.)

Since that season, Kap hasn’t been able to get a job on any team, leading to a lawsuit against the NFL’s 32 owners for essentially black balling him.

…then Nike came back in the picture

(Image: Nike)

When it looked like Kap couldn’t get a break—it even looked like he’d been dropped by Nike (although they’d been paying him all along)—Nike came out guns blazing with the big reveal, unveiling Kap as their poster boy.

Literally.

And since then? Well, the $7B, obviously. And lots of sales.

Nike’s controversial ad campaign has caused a surge on social, with metrics up all over the board, from Instagram followers and to likes on Twitter and Facebook.

All in all, Nike’s added about 170,000 IG follows when the ad dropped, Wedbush Securities said in a research note.

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This Ex-NBA All Star May Just Have The No.1 Wine In The World

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Source: Forbes

Former NBA All Star Yao Ming had his career cut short by injuries. But he’s rebounded, big time, with big scores off the court.

(LOL at these sports cliches…)

Ming founded Yao Family Wines in California’s Napa Valley in 2011. Which is not a major deal; lots of celebrities make mediocre wines that eventually drop off.

Anyway, back in 2015, Ming raised $2M on crowdfunding platform Crowdfunder to scale his own wine. Here’s how it looked back then, according to the Wall Street Journal:

With Beijing’s anti-corruption campaign sapping demand for expensive wines, Yao Family Wines, the biggest seller of high-end Californian wine in China by value, is shifting its focus from Chinese banquet tables to U.S. steak houses. Now 15% of the winery’s revenues come from the US, compared to almost zero at the beginning in late 2011. The company said it has managed to grow its sales in a tough environment, without giving more details.

And now, Ming’s wine—legitimately—is now one of the best in the world, with an approval rating of 95+ from the world’s single most influential wine critic, Robert Parker of The Wine Advocate.

Here’s what he wrote:

“I am aware of all the arguments that major celebrities lending their names to wines is generally a formula for mediocrity, but that is not the case with Yao Ming. These are high-class wines. The two Cabernets are actually brilliant, and the Reserve bottling ranks alongside just about anything made in Napa.”

Another influential voice of wine the Wine Enthusiast went even further, awarding his wines 97 and 95 points respectively.

Check out his winery here.

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Uber Goes Public And Immediately Loses Over $6B In Value

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UBER just went public in the most anticipated IPO since Facebook went to Wall Street.

The ride-sharing company officially hit the New York Stock Exchange Friday, pricing its IPO at $45 a share, which put the ride-hailing company at $81B at 180M shares available—far below their initial $120B projection in their filings.

Uber ended the day at $41.60—down nearly 8% from its listing price, leading to a $6B+ valuation loss.

For perspective: Uber’s last private valuation was about $76B. It’s now worth $75.5B.

What’s happening?

Uber’s not the only one crashing out the gate. Even though Lyft beat Uber to the IPO punch, since going public in March, Lyft has lost 29% of its value.

Uber’s been plagued by a number of issues, compounded by the fact that none of the tech unicorns are profitable yet. Uber, for instance, burned through $1B in Q1 alone.

“They waited too long to go public,” Former NYSE President Tom Farley said. “Some of the issues they had — I’ll call it culture — some of the issues they had with their culture would’ve been solved in a public market. You wouldn’t show up on a quarterly conference call every quarter and have three or four new stories like they were having for 18 straight months.”

Did Uber IPO too late?

Although early investors made out like straight BANDITS—just look at Lance Armstrong—investors in the later stage haven’t been as lucky.

“I mean, you look at all the money invested in Uber — 25 billion bucks,” Farley said. “Their pre-money valuation last night was [$]73 [billion]. This is a 2.8x investment.

“That’s great and all, but the initial investors got 10,000 times their money. So the recent people, they haven’t been making money. This is a company that has needed public discipline, this is a company that has needed a public currency, and it’s a company that should have gone public three or four years ago.”

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Morgan Stanley Just Released Its List Of Top 10 Companies They’re Investing In

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Morgan Stanley just announced the second cohort of its Multicultural Innovation Lab, an accelerator program for technology and technology-enabled start-ups in the post-seed to Series B funding rounds.

The program—now in its second year—targets companies with a multicultural or woman founder, co-founder, or any Chief (insert) Officer in charge of what it calls “innovative solutions across sectors.”

According to various studies, female founders, founders of color—and both—receive as little or less than 1% of venture capital funding—a gap Morgan Stanley says it wants to bridge.

“There is a compelling business case for investing in startups led by women and multicultural founders, yet, as found in our recent report, there is a large market inefficiency to accelerate businesses led by these founders,” Managing Director Alice Vilma says. “We are working to directly address this funding gap, one cohort at a time.”

With less than 3% admitted into the program, each startup will take a seat on its on floor inside Morgan Stanley’s global headquarters in Times Square, New York.

In addition, the companies funded receive pretty precious billboard space all over Times Square. It’s real fancy.

(Oh, snap!)

Here are the 10 companies that were selected:

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