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Since Nike unveiled its new ad campaign with ex-NFL player Colin Kaepernick, millennial stock-trading app Robinhood says its users have been buying the sports apparel company’s stock three times more than they’re selling, up from 12% last week. 

Why it matters: Nike’s stock was down 3% on Tuesday, but its bet on the political campaign seems to be paying off with young consumers — Robinhood is popular among millennials and its users are 31-years-old on average. Go deeper: Why some Nike analysts are staying silent

Stock trading app sees spike in buying Nike shares

Robinhood's users, who are 31 years-old on average, had an appetite for Nike stock.

Colin Kaepernick kneels on the sideline, during the anthem. Photo: Michael Zagaris/San Francisco 49ers/Getty Images

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Since Nike unveiled its new <a class="gtmContentClick" data-vars-link-text="ad campaign with ex-NFL player " data-vars-click-url="https://www.axios.com/colin-kaepernick-nike-just-do-it-campaign-50a526d0-9743-43e2-bf93-cf3ae2e505f6.html" data-vars-content-id="25483d70-b13c-4e0c-8f62-51d2e74fdf3a" data-vars-headline="Stock trading app sees spike in buying Nike shares" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/colin-kaepernick-nike-just-do-it-campaign-50a526d0-9743-43e2-bf93-cf3ae2e505f6.html" target="_self">ad campaign with ex-NFL player </a>Colin Kaepernick, millennial stock-trading app Robinhood says its users have been buying the sports apparel company’s stock three times more than they’re selling, up from 12% last week. Why it matters: <a class="gtmContentClick" data-vars-link-text="Nike’s stock was down 3% on Tuesday" data-vars-click-url="https://www.axios.com/nike-shares-fall-colin-kaepernick-deal-ff938de4-7f58-4af2-a43d-9f55accedbe3.html" data-vars-content-id="25483d70-b13c-4e0c-8f62-51d2e74fdf3a" data-vars-headline="Stock trading app sees spike in buying Nike shares" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/nike-shares-fall-colin-kaepernick-deal-ff938de4-7f58-4af2-a43d-9f55accedbe3.html" target="_self">Nike’s stock was down 3% on Tuesday</a>, but its bet on the political campaign seems to be paying off with young consumers — Robinhood is popular among millennials and its users are 31-years-old on average. Go deeper: <a class="gtmContentClick" data-vars-link-text="Why some Nike analysts are staying silent" data-vars-click-url="https://www.axios.com/nike-kaepernick-analysts-silent-1536084051-4629cfbb-9b49-41a4-9906-2408b465ff75.html" data-vars-content-id="25483d70-b13c-4e0c-8f62-51d2e74fdf3a" data-vars-headline="Stock trading app sees spike in buying Nike shares" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/nike-kaepernick-analysts-silent-1536084051-4629cfbb-9b49-41a4-9906-2408b465ff75.html" target="_self">Why some Nike analysts are staying silent</a>

Shifts in technology and media are changing the way we play, watch and understand sports. Business models are adapting and social change is forcing those in charge of teams and leagues to reconsider decades-old practices.