Shares of Nike fell 3.2 percent on Tuesday as calls for a boycott of the sportswear giant gained traction on social media following its choice of Colin Kaepernick as a face for the 30th anniversary of its “Just Do It” slogan.

Former San Francisco quarterback Kaepernick, the first NFL player to kneel during the national anthem as a protest against racism, posted a black-and-white close-up of himself on social media on Monday featuring the Nike logo and “Just do it” along with the quote, “Believe in something. Even if it means sacrificing everything.

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