Nike Dropped from S&P 100 as Stock Plunges 75%

Nike's struggles continue as the company is being removed from the S&P 100 index. This decision comes after Nike's stock plummeted over 75% from its 2021 peak, wiping out approximately $230 billion in market value. The removal will take effect on September 21, 2026.

Nike's decline has been driven by stagnant revenue growth, shrinking gross margins, and challenges in Greater China. Despite generating substantial revenue and maintaining global brand recognition, Nike needs to address these issues to regain its footing in the market.

The S&P 100 is being rebalanced with new additions including Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk. These companies will replace Nike and others, such as Honeywell Aerospace, Simon Property Group, and Colgate-Palmolive, which are also exiting the index.