Nike Exits S&P 100 After $220 Billion Market Value Collapse
Updated
Updated · Fox News · Sep 9
Nike Exits S&P 100 After $220 Billion Market Value Collapse
3 articles · Updated · Fox News · Sep 9
Summary
S&P Dow Jones Indices will remove Nike from the S&P 100 before trading on Sept. 21, ending the company’s nearly 18-year run in the blue-chip index.
Nike’s market capitalization has fallen to about $56.5 billion from roughly $281 billion at its November 2021 peak, with shares closing Tuesday at $38.10—about 79% below their record high.
Greater China revenue has also weakened, dropping to $5.85 billion from $8.29 billion in 2021, including an 11% decline over the past year.
The index exit underscores how far Nike has fallen from its once-dominant status, even as it still sells billions in footwear and works to rebuild product innovation and retail relationships.