Adidas stock price (in real time) hits 52-week low after Kanye West scandal



House Company UPDATE Adidas stock price (real-time) hits 52-week low after…


THURSDAY 10:12: Adidas stock price is at a 52-week low at $93.63. One hour remains to negotiate in Germany.

WEDNESDAY EVENING: Adidas is all laced up and has nowhere to go.

The German sportswear company’s stock price fell around October 20, from around $115 to $103. By the time the company canceled its deal with Kanye West over his anti-Semitic statements, they had reached $96.

Of course, Adidas eventually divorced West because the stock was dropping like sneakers filled with cement. They thought it would bounce back once they cut ties with the rapper. But guess what? This is not the case.

Today, Adidas closed on the German stock market at $96.88. Six months ago, Adidas was up nearly $192 per share. Supply chain and sales issues in China have gradually lowered prices. But the real downfall came with Kanye’s hateful comments. Critics suddenly began researching Adidas’ World War II history, labeling it a Nazi company. It took executives too many days to part ways with Kanye West. And now they are paying the price.

There’s obviously some residual anger over how the company has responded, given that Gap, Balenciaga and even the soulless magazine Vogue preceded them with snappy announcements. It will take longer than expected to regain goodwill. No wonder Skechers kicked Kanye out of their lobby. No shoe company will soon be going into business with West.

Author

Roger Friedman started his Showbiz411 column in April 2009 after 10 years at Fox News, where he created the Fox411 column. His film reviews are carried by Rotten Tomatoes and he is a member of the film and television branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years, including New York Magazine, where he wrote the Intelligencer column in the mid-90s and covered the OJ Simpson trial, and Fox News (when it wasn’t). not so crazy) where he covered Michael Jackson. . He is also screenwriter and co-producer of “Only the Strong Survive”, a selection from the Cannes, Sundance and Telluride festivals, directed by DA Pennebaker and Chris Hegedus.

James T. Quintero