colin kaepernick

John Bazemore/AP

  • Nike has grown in popularity among millennial investors after releasing its controversial Colin Kaepernick ad.
  • A total of 15,191 investors added Nike to their portfolios on Robinhood this week, up 45% from last week.
  • President Donald Trump tweeted Wednesday criticizing Nike’s polarizing ad.
  • The company is trying to reach a younger demographic, an analyst said.

Nike‘s controversial ad featuring Colin Kaepernick has paid off, at least among millennial investors, according to data from Robinhood, a no-fee brokerage popular among younger traders.

The sneaker maker tapped several athletes including Kaepernick, the football quarterback who protested racial injustice by kneeling during the national anthem, as the faces of a campaign marking the 30th anniversary of its “Just Do It” slogan.

Nike shares are down 2% this week, following the campaign reveal on Monday. Meanwhile on…