Nike to Leave S&P 100 After Nearly 18 Years as Shares Remain

Nike is set to leave the S&P 100 after nearly 18 years in the blue-chip index, marking another sign of the dramatic decline in the sportswear company’s market value since its 2021 peak.

S&P Dow Jones Indices said Nike will be removed from the S&P 100 before markets open on September 21, 2026, as part of the index provider’s quarterly rebalance. The change was highlighted by Coin Bureau, which pointed to Nike’s roughly 78% decline from its 2021 peak, alongside weak sales and intensifying competition.

The removal does not mean Nike is leaving the broader S&P 500. The company will remain a constituent of that index after the September reshuffle.

Nike’s Market Value Has Fallen Sharply

The S&P 100 is a subset of the S&P 500 designed to track 100 major U.S. blue-chip companies across multiple industries. Its constituents can change as companies no longer meet the index’s representation requirements relative to other large-cap businesses.

Nike’s decline has been substantial. Shares closed at $38.40 on September 4, according to market reports, compared with a record closing price of $177.51 reached in November 2021. That represents a decline of roughly 78% and has sharply reduced the company’s market capitalization.

The stock performance has unfolded alongside broader challenges for Nike, including slower sales growth and stronger competition in the global athletic-apparel market. The company has also been working to rebuild momentum after changes to its product and distribution strategy.

The index reshuffle illustrates how quickly the composition of the largest U.S. companies can change when markets valuations diverge. S&P Dow Jones Indices said the quarterly adjustments are intended to ensure the indexes remain representative of their respective market-capitalization ranges.

What Nike’s S&P 100 Exit Means for Investors

Nike’s removal is primarily an index-composition change rather than a change to the company’s trading status. Investors will continue to trade $NKE, and its continued membership in the S&P 500 means it remains part of one of the market’s principal large-cap benchmarks.

For broader financial markets, the development highlights the pressure facing established consumer brands as investors increasingly reward companies with stronger growth and market valuations. The S&P 100 changes also add Dell Technologies, Palo Alto Networks, Arista Networks and Sandisk, reinforcing the changing composition of the index.

The immediate milestone is September 21, when the revised S&P 100 composition takes effect before the U.S. market opens. Investors will then assess whether Nike can stabilize its business and stock valuation enough to regain its position among the largest companies tracked by the index.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.