The Latest: Nike stock falls following Kaepernick’s new deal

<p>
              FILE - In this Sept. 25, 2016, file photo, San Francisco 49ers' Colin Kaepernick kneels during the national anthem before an NFL football game against the Seattle Seahawks, in Seattle. Kaepernick has a new deal with Nike, even though the NFL does not want him. Kaepernick’s attorney, Mark Geragos, made the announcement on Twitter, calling the former 49ers quarterback an “All American Icon” and crediting attorney Ben Meiselas for getting the deal done. (AP Photo/Ted S. Warren, File)
            </p>

NEW YORK (AP) — The Latest on Colin Kaepernick’s Nike deal. (all times local):

5:25 p.m.

President Donald Trump says Nike is sending a “terrible message” by making Colin Kaepernick part of a new ad campaign tied to the 30th anniversary of its “Just Do It” series.

Trump told The Daily Caller that “there’s no reason for it” but he also feels Nike’s ability to make its own business decisions “is what this country is all about.”

Trump has been a frequent critic of protesting NFL players. He has loudly urged the league to suspend or fire players who demonstrate during the anthem.

The Republican president is also a key figure in Kaepernick’s grievance case against the league. Some NFL owners have said Trump made clear to them his feelings about demonstrations during the anthem and his intention to continue to raise the issue.

Kaepernick is arguing the owners colluded to keep him off any roster.