Nike Faces Dow Removal as Share Price Continues to Lag

Nike's position in the Dow Jones Industrial Average is under scrutiny as the sportswear giant faces potential removal from the index. S&P Dow Jones Indices announced that Nike will be removed from the S&P 100 on September 21, ending its 18-year presence in the blue-chip index.

The move has sparked questions about whether Nike could lose its place in the Dow, where it has been a component since 2013. Nike's shares have gained only 5% since joining the Dow, while the S&P 500 has risen more than fourfold over the same period.

Analysts point to slowing sales, a lack of innovation, and intensifying competition from newer sportswear brands as factors contributing to Nike's roughly 80% decline in market value from its peak.