Sportswear giant Nike will be removed from the S&P 100 after nearly 18 years in the index.
S&P Dow Jones Indices will remove Nike from the S&P 100 effective before the market opens on September 21, 2026, as part of its quarterly index changes.
The company will remain in the S&P 500 classification.
Nike shares closed at $38.40 on September 4, 2026. The stock has fallen roughly 78 percent from its record closing price of $177.51 reached in November 2021. The decline has wiped out roughly $230 billion in Nike’s market value from its peak.
The company has faced slowing sales, intense competition and challenges in key markets, while its stock has struggled to regain investor confidence.
Meanwhile, stocks like Dell Technologies and SanDisk will join the S&P 100 in the latest reshuffle.
Why Nike Crashed?
Nike’s market value peaked at about $280 billion in November 2021 but has since fallen to around $57 billion, wiping out roughly $223 billion.
Former Nike branding executive Massimo Giunco blamed CEO John Donahoe’s aggressive direct-to-consumer strategy, including cutting product categories and hundreds of wholesale partnerships.
Nike later restored its traditional product categories, while rivals gained shelf space at retailers. The sportswear king was too late.
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