Ted Cruz Mocks Nike as Stock Falls to 12-Year Low, Reviving Betsy Ross Boycott

Texas senator says Nike “lost me” after the company canceled its Betsy Ross flag shoe following criticism from Colin Kaepernick

Sen. Ted Cruz, R-Texas, is taking another shot at Nike after the iconic American sportswear brand saw its stock fall to its lowest level in 12 years.

Cruz joined conservatives criticizing the company on social media, pointing to Nike's years-long stock decline while revisiting his decision to boycott the brand over its canceled Betsy Ross-themed shoe in 2019.

“Sad & predictable,” Cruz wrote on X, responding to reports of Nike’s stock performance.

The Texas senator said he had worn Nike products for nearly his entire life before the company’s decision to pull the patriotic shoe changed his opinion of the brand.

“For my whole life, I wore nearly 100% Nike for athletic wear,” Cruz wrote. “Kaepernick pissed me off, but when they cancelled the Betsy Ross shoe it showed that their marketing plan was America-hate.”

He added that he immediately replaced his Nike wardrobe with new shoes, shorts and T-shirts from other brands.

“Turns out I wasn’t the only one,” Cruz continued, ending his post with the phrase #GoWokeGoBroke.

Nike’s stock reached a 12-year low earlier this week, extending a dramatic decline that has seen shares fall nearly 80% from the company’s record high in 2021. The prolonged downturn has erased roughly $200 billion in market value from the athletic apparel giant since its peak, when shares traded at an all-time high of $177.51.

Cruz’s latest comments came in response to conservative influencer Douglass Mackey, who shared a list of factors he believed contributed to Nike’s declining stock performance.

The senator has been one of Nike’s most vocal critics since 2019, when the company abandoned plans to release a sneaker featuring the Betsy Ross flag. Former NFL quarterback Colin Kaepernick reportedly urged Nike to pull the design, arguing that the flag carried troubling historical associations.

The decision sparked widespread backlash among conservatives and led Cruz to publicly boycott the company — a position he continues to highlight years later as Nike faces mounting financial challenges.