Nike loses its S&P 100 seat after an $200 billion market-cap collapse

Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

Nike will drop out of the S&P 100 on September 21, ending nearly 18 years in the benchmark. The sportswear giant has shed over $200 billion in market value since its November 2021 peak, a roughly 78% decline, with shares now near $38. Greater China sales fell 17% last quarter, direct-to-consumer revenue dropped 6%, and the company warned of further declines into fiscal 2027. Dell, Palo Alto Networks, Arista Networks, and Sandisk take the vacated spots.