Nike Exits S&P 100 Following Nearly 80% Drop from Peak

BY SRH

After a precipitous fall in market value, sportswear behemoth Nike—which for years alienated conservatives by endorsing Colin Kaepernick and putting far-left politics into its brand—was kicked out of the S&P 100.

In its usual quarterly rebalancing, S&P Dow Jones Indices said on Friday that the blue-chip index will have Nike Inc. removed from it before trading starts on September 21.

The downgrade is another serious setback for the once-dominant American brand, whose shares have fallen between 76% and 79% from their all-time high in November 2021. Despite this, the firm will still be included in the larger S&P 500.

Close to the same level as it did twelve years ago, Nike stock ended at $38.40 on September 4.

Even more shocking is the precipitous decline in value. By the year’s end in 2021, Nike had a valuation between $264 billion and $280 billion.Approximately $57 billion was its market cap as of the beginning of September 2026.

The value has been reduced by over $200 billion.

It Had Been Nearly 18 Years Since Nike Booted. For nearly 18 years, beginning in December 2008, Nike was a member of the S&P 100.Included in the index are some of the most well-known and substantial American corporations that are part of the S&P 500.

Colgate-Palmolive, Simon Property Group, Honeywell Aerospace, and Nike will all be removed off the list.Because of the move, funds that follow the S&P 100 will need to rebalance their holdings, which might lead to more automated sales of Nike shares near the effective date.The impact on passive investment will be much smaller because Nike is still included in the S&P 500, compared to when the business was also removed from that index.

Yet, Nike’s precipitous decline is borne out by the fact that it has been absent from the S&P 100 for almost twenty years. The problems at Nike go far beyond the current state of the company’s stock price.