Nike Booted from S&P 100 Index Amid Financial Struggles

Nike (NKE) has been kicked out of the S&P 100 index after nearly two decades, effective September 21. The company's market capitalization has dropped to approximately $57 billion, accompanied by stagnant fiscal 2026 revenue of $46.4 billion.

The athletic apparel giant's shares began Monday trading at $38.39, barely above the 52-week bottom of $37.95. This represents a dramatic retreat from the 52-week peak of $76.97.

Nike faces removal from the S&P 100 index due to its diminished market presence and weighting. The company's current financial metrics are under strain, with critical business divisions such as Nike Direct, digital channels, and the Greater China market experiencing contractions.