Axios

Nike has released its first ad with Colin Kaepernick as the pitchman for the company's "Just Do It" 30th anniversary campaign.

President Trump responded to Nike's reveal of Colin Kaepernick as the face of its "Just Do It" campaign in a Wednesday morning tweet, saying the sporting goods company is "getting absolutely killed with anger and boycotts."

"Just like the NFL, whose ratings have gone WAY DOWN, Nike is getting absolutely killed with anger and boycotts. I wonder if they had any idea that it would be this way? As far as the NFL is concerned, I just find it hard to watch, and always will, until they stand for the FLAG!"

The big picture: Nike shares dropped after the announcement, and some customers have used social media to protest by posting videos of burning Nike merchandise. The NFL's executive vice president of communications and public affairs, Jocelyn Moore, said in a statement on Tuesday that the league embraces "the role and responsibility of everyone involved with this game to promote meaningful, positive change in our communities."

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

The NFL has issued a statement supporting Nike's decision to make former San Francisco 49ers quarterback Colin Kaepernick a face of Nike's "Just Do It" ad campaign, saying they "embrace the role and responsibility of everyone involved with this game."

"The National Football League believes in dialogue, understanding and unity. 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."

The big picture: Nike's announcement was met with mixed emotions. Shares of Nike fell more than 2% in early trading after the company revealed Kaepernick, one of the first NFL athletes to kneel during the national anthem, as one of the faces of its 30th anniversary ad campaign.

In the day since Nike announced former San Francisco 49ers quarterback Colin Kaepernick would be the face of its 30th anniversary slogan, the company profited $43 million worth of media exposure despite public backlash, according to Apex Marketing, Bloomberg reports.

The trend: The media buzz has been neutral to positive, per Apex, unlike the largely negative backlash seen on Twitter.

Dan discusses Nike's controversial decision to add Colin Kaepernick as a face of the company, and is joined by ESPN sports business reporter Darren Rovell. In the "Final Two," Dan talks about big tech heading to Capitol Hill and two Reuters reporters getting arrested in Myanmar.

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Shares of Nike, Inc. fell more than 2% in early trading after the company announced Colin Kaepernick, who sparked a movement among NFL athletes by protesting racial inequalities during the national anthem, as one of the faces of its "Just Do It" ad campaign.

Why it matters: Nike is already losing ground to rival Adidas, and investors fear the company's decision to feature Kaepernick might make things worse. Nike is already facing backlash on Twitter — with some customers posting videos of burning Nike products.