Nike Removed from S&P 100 After an 18-Year Streak Amid Sharp Share Price Decline
Nike has been removed from the S&P 100 index after a nearly two-decade presence, following a significant decline in its stock price. Shares have fallen almost 80% since their peak of $179 per share in 2021 and are now trading at around $36.85, representing over $200 billion lost in market value. The S&P Global has replaced Nike with several AI-related tech companies such as SanDisk and Arista Networks. Nike's struggles include a shift away from direct-to-consumer sales, which saw an 8% decline for the fiscal year ending 2026, particularly impacting its digital division by 12%. International markets like China have also underperformed despite growing demand in athletic apparel. The company’s Converse brand has seen a sharp drop of 32% over the past twelve months. Despite these challenges, Nike's CEO remains optimistic about progress and is focused on improving profitability and execution to realize long-term potential.
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Topics: blue-chip stocks Nike S&P 100 removal share price decline