Senator Ted Cruz is taking a public victory lap after Nike’s stock price plummeted to its lowest level in twelve years. The Texas Republican took to social media to celebrate the financial downturn, framing the company’s struggles as a direct result of what he describes as corporate wokeism. For Cruz, the current market slump serves as a validation of his personal boycott of the brand, which began years ago following a series of controversial business decisions by the sportswear giant.

The senator specifically pointed back to Nike’s decision to scrap a Betsy Ross themed sneaker intended for a Fourth of July release, citing it as the moment he officially walked away from the brand. While former NFL player Colin Kaepernick had pushed for the removal of the shoe, arguing that the early American flag had been co-opted by white nationalists, Cruz viewed the move as evidence of an underlying hatred for America embedded in Nike’s marketing strategy. He noted that while he spent most of his life wearing almost exclusively Nike products, those days ended when he felt the company turned its back on patriotic symbols.

Using the hashtag Go Woke Go Broke, Cruz suggested that his individual choice to ditch the swoosh was mirrored by millions of other consumers across the country. This sentiment echoed similar criticisms made years ago by figures like then-Senate Majority Leader Mitch McConnell, who questioned why an American flag should ever be considered too controversial for a commercial product. By linking these cultural grievances to current fiscal failures, Cruz positioned himself as an early warning system for investors and customers alike.

The numbers behind the decline are stark, with Nike seeing nearly two hundred billion dollars in market value vanish over recent years. Since hitting an all-time peak in 2021, shares have dropped significantly, marking a steep descent from prices that once touched nearly one hundred and eighty dollars. As analysts debate whether these losses are due to shifting consumer trends or broader economic headwinds, Senator Cruz remains convinced that politics played a primary role in eroding the iconic brand’s dominance.