NEW YORK, NY / ACCESSWIRE / September 5, 2018 / Amazon became the second company to hit a $1 trillion market value on Tuesday, hitting a brand new record high. Shares of Nike were in the red after controversy broke out over the company featuring Colin Kaepernick in its 30th anniversary campaign among other athletes.
RDI Initiates Coverage on:
NIKE, Inc.
https://www.rdinvesting.com/report/?ticker=NKE
Amazon.com, Inc.
https://www.rdinvesting.com/report/?ticker=AMZN
NIKE, Inc. shares were down 3.16% at the close on Tuesday. It was a rocky day for the sport apparel and shoe company after backlash emerged against Colin Kaepernick who is featured in Nike's 30th anniversary campaign on Monday. Kaepernick has been the focal point of the National Anthem controversy when he decided to kneel instead of stand as a protest for the unfair treatment of minorities. The NFL released a statement that reads: "We embrace the role and responsibility of everyone involved with this game to promote meaningful, positive change in our communities. The social justice issues that Colin and other professional athletes have raised deserve our attention and action." President Trump made his own remarks and said in an interview with the Daily Caller, "I think as far as sending a message, I think it's a terrible message and a message that shouldn't be sent. There's no reason for it." The former 49ers quarterback had tweeted an image from the campaign on Monday, saying: "Believe in something, even if it means sacrificing everything."
Access RDI’s NIKE, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=NKE
Amazon.com, Inc. shares hit a record new high on Tuesday, helping the e-commerce giant hit over the $1 trillion mark for the first time. It was 5 weeks ago that tech giant Apple was able to accomplish this feat. Amazon shares hit a high of 2,050.50 yesterday. The company needed shares to hit $2,050.27 to reach the $1 trillion mark, based on an outstanding count of 487,741,189 shares in the company's most recent quarterly report in July. Shortly after the move, Loup Ventures' Gene Munster told CNBC's "Squawk Alley," that "They have given investors confidence that they can go and disrupt markets just like they've done with retail." Shares couldn't stay at the mark though to remain at a $1 trillion value as they closed at 2,039.51. It's still been seven days of gain for the company.
Access RDI’s Amazon.com, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=AMZN
Our Actionable Research on NIKE, Inc. (NYSE: NKE) and Amazon.com, Inc. (NASDAQ: AMZN) can be downloaded free of charge at Research Driven Investing
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