Nike Removed from S&P 100 Index Amidst Major Stock Decline

Nike, once a leading consumer brand, is set to be removed from the S&P 100 Index as of September 21, 2026, following a dramatic decline in its stock price. The announcement by S&P Dow Jones Indices marks a significant shift for the company, which has seen its stock plummet over 75% from its peak in 2021, now trading at levels not seen in over a decade.

The reasons for Nike's decline are multifaceted, including stagnant revenue growth, shrinking gross margins, and ongoing challenges in the Greater China market. This downturn has resulted in a staggering loss of approximately $230 billion in market capitalization.

Nike is not alone in this rebalance; other companies such as Honeywell Aerospace, Simon Property Group, and Colgate-Palmolive are also exiting the index. In their place, four technology firms—Dell Technologies, Palo Alto Networks, Arista Networks, and SanDisk—will join the S&P 100, reflecting a broader trend towards digital and cybersecurity infrastructure.

While Nike will retain its position in the S&P 500, the loss of its S&P 100 status could lead to increased selling pressure from institutional investors who track the index. This shift may further limit the pool of potential buyers for Nike shares, as some fund managers prioritize index membership in their investment strategies.

Looking ahead, Nike's path to regaining its S&P 100 status will require addressing key issues such as margin compression and revenue stagnation, particularly in the challenging Chinese market.