Nike CEO may have just admitted the company went too woke as stock hits 12-year low

But here were the 33 that stuck out: "Over the past year, we've put sport at the center of everything we do.We're seeing encouraging signs of progress, but we have more work to do to win over the long term."That was sent out on Oct.

1, one day before Nike's stock price closed at $33.87 per share — its lowest in over 12 years.The once unstoppable athletic titan expects more layoffs in 2027 after already cutting staff twice this year.A Nike ad featuring quarterback Colin Kaepernick is on display Sept.

8, 2018, in New York City.Nike's campaign featuring Kaepernick, the former NFL player turned activist against police violence, takes a strong stance on a divisive issue.

(AFP via Getty Images)TED CRUZ TAKES VICTORY LAP AS ICONIC AMERICAN BRAND'S STOCK PLUNGES TO 12-YEAR LOWAnd you have to wonder if those words above — "over the past year, we've put sport at the center of everything we do" — was as much a confession as it was a mission statement.Nike chose politics over its core identity, and it's desperately trying to course correct.Last month, Outkick's Dan Zaksheske listed a series of decisions the company made over the past few years aimed at courting a left-wing audience.

In 2019, it tapped Colin Kaepernick as the face of its 30th anniversary "Just Do It" campaign.In the wake of George Floyd's death in 2020, it ran its "For Once, Don't Do it" ad, which included lines like "don't pretend there's not a problem in America," and "Don't turn your back on racism." In 2023, it partnered with female-identifying male Dylan Mulvaney to promote women's leggings and sports bras — seemingly unfazed by the backlash Mulvaney's partnership with Bud Light sparked.

There was also the "Equality" commercial in 2017 that featured phrases such as "the ball should bounce the same for everyone."Nike has prominently featured Pride and LGBTQ messaging in its brand and corporate initiatives.(SOPA Images/LightRocket via Getty Images)NIKE SHAREHOLDERS REJECT TRANSPARENCY PROPOSAL A...