Athletic apparel company Nike is now this year's best-performing stock on the Dow Jones Industrial Average: It was up 36 percent last week and significantly outperforming competitors like Foot Locker and Sketchers.
While its stock fell more than 2 percent following the announcement that former San Francisco 49ers quarterback Colin Kaepernick — who was one of the first NFL players to kneel in protest of racial injustice during the national anthem — would be featured in the 30th anniversary of the company's "Just Do It" advertising campaign, it has quickly recovered.
About 14 percent of the stock's gains came in the last three months.
And if you invested $1,000 in Nike 10 years ago, that decision would have paid off. According to CNBC calculations, a $1,000 investment made in early September 2008 would be worth more than $6,155 as of midday Sept. 21, 2018, or more than five times as much, including price appreciation and dividends reinvested.
CNBC: Nike stock as of September 2018.
It isn't yet clear how Kaepernick's inclusion in the campaign will affect Nike's stock in the long term, but a majority of consumers seem to support the move, according to a survey by Wall Street firm Canaccord Genuity.
And while Mark Tepper, president and chief operating officer of wealth-management firm Strategic Wealth Partners, said on CNBC's "Trading Nation" that he isn't "crazy" about Nike's valuation, he also admires the company: "They're resilient, and when you have an iconic brand, it can command a premium valuation."
Kaepernick, who has become the face of the NFL protests, is not currently signed with any football team and has filed a grievance accusing the league of colluding to keep him off the field. An arbitrator has allowed that case to proceed.
If you're looking to invest in the next Nike or are just considering putting some money in the stock market, experienced investors like Warren Buffett, Mark Cuban and Tony Robbins suggest you start with index funds, which hold every stock in an index, offer low turnover rates, attendant fees and tax bills, and fluctuate with the market to eliminate the risk of picking individual stocks.
This story has been updated to reflect the latest information about Nike's stock price.
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Video by Andrea Kramar