Nike Removed from S&P 100 Index Amid Stock Decline
On September 21, 2026, Nike (NKE) will be removed from the S&P 100 index after a multi-year decline in its stock price. The company remains listed on the broader S&P 500 but losing membership in this elite group signals shifting investor priorities toward technology and infrastructure over traditional consumer brands. Nike's market value has dropped by more than $220 billion since November 2021, with shares hitting a near-12-year low of $38.40 as of September 4, 2026. The S&P 100 itself rose roughly 83% over the same period while Nike's stock fell more than 75%. This divergence highlights how market perception has shifted toward tech companies like Palo Alto Networks (PANW), which is replacing Nike in the index. The removal reflects a broader trend where investors are favoring firms that support AI infrastructure and digital transformation. Companies such as Dell Technologies, Arista Networks, and SanDisk—also entering the S&P 100—are seen as more essential to modern business operations than traditional consumer goods leaders like Nike.
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Topics: Nike (NKE) rebalancing S&P 100 stock indices