How does Nike feel about the claims that the brand was "losing the Olympics" due to its stock being sluggish during the global games?

"It’s absolute nonsense," said Nike brand president, Trevor Edwards, in an interview with Fortune. "We have 1,500 athletes from over 60 countries. Visibly you can see the brand’s presence."

Edwards cites 340 million video views on its Unlimited video campaign and Nike's near ubiquity in track and field at the Games as evidence of its doing just fine for Rio 2016.

Nike also found a small victory courtesy of Michael Phelps, endorser of rival brand Under Armour, who appeared on the cover of Sports Illustrated wearing the Swoosh.

Head to Fortune for their take on why Nike isn't really losing the Olympics.