Nike’s controversial Colin Kaepernick ad — which debuted Thursday night — is proving to be a lot less costly than first feared.

Hours after the two-minute spot first aired on NBC during the network’s season-opening “Thursday Night Football” telecast, Nike shares were trading up 73 cents at 11:26 a.m., to $81.13.

That meant Nike shares had regained more than half the $2.60-per-share decline — and $3.3 billion loss in market cap — it experienced Tuesday when the ad was first announced.

Since Wednesday, Nike shares have added $1.53 per share.

A fuller picture of the ad’s effect on sales may be unveiled Sept. 25 when the Beaverton, Ore., company reports its quarterly results.