Nike shares are down today following last night’s matchup between Duke and UNC. Just seconds into the game, Duke star player and NBA prospect Zion Williamson suffered a knee injury after his Nike PG 2.5 shoe split on the court. As of this morning, the brand’s stock is down about one percent, equating to roughly $1.12 billion in losses for the brand. Nike stock was down as much as two percent in premarket.
“We are obviously concerned and want to wish Zion a speedy recovery. The quality and performance of our products are of utmost importance,” Nike said in a statement. The brand added that it is working to “identify the issue,” as this was “an isolated occurrence.”
Following the injury, Nike trended on Twitter. The brand quickly garnered backlash for the incident. Some were outraged—even former President Obama, who was sitting court side at the game, appeared to be in shock—but many jumped on the opportunity to make jokes about the brand.
Even competitor Puma chimed in—although the moment was short-lived. The brand’s basketball account tweeted that the splitting and subsequent injury wouldn’t have happened if Williamson had been wearing Puma’s, but the tweet was swiftly deleted.