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● TRACKER Updated 5d ago · 9 sources tracked

Nike forgot that Republicans buy sneakers, too, and now it's getting booted from the S&P 100

Nike has been removed from the S&P 100 index following a 39% decline in share value this year. The company saw a $200 billion market-cap wipeout, ending an 18-year tenure in the index. While the company has been dropped from the S&P 100, Nike has reassured its executives that the stock remains part of the S&P 500. Management is currently attempting to execute a turnaround strategy to reverse the stock's faltering performance.

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  • ✓ Nike has been removed from the S&P 100 index.
  • ✓ Nike shares have tumbled 39% this year.
  • ✓ The company experienced a $200 billion market-cap wipeout.
  • ✓ Nike had been in the S&P 100 for 18 years.
🛡️ Source Corroboration: 9 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Nike was dropped from the S&P 100 index alongside Simon Property Group.

Live updates

  1. Nike exits S&P 100 after market value drops $200 billion

    Nike has been removed from the S&P 100 index following a 39% decline in share value this year. The company saw a $200 billion market-cap wipeout, ending an 18-year tenure in the index. While the company has been dropped from the S&P 100, Nike has reassured its executives that the stock remains part of the S&P 500. Management is currently attempting to execute a turnaround strategy to reverse the stock's faltering performance.

    Why it matters

    The S&P 100 tracks the largest companies in the S&P 500. Removal from this index often reflects significant losses in market capitalization and investor confidence. Nike is currently fighting skepticism regarding its ability to regain growth.

    What is confirmed

    • Nike has been removed from the S&P 100 index.
    • Nike shares have tumbled 39% this year.
    • The company experienced a $200 billion market-cap wipeout.
    • Nike had been in the S&P 100 for 18 years.

    Still unconfirmed

    • The Nike CEO expresses growing confidence in turnaround efforts.

    What to watch next

    • Updates on the effectiveness of Elliott Hill's turnaround strategy
    • Quarterly earnings reports showing if stock declines stabilize
    • Official confirmation of S&P 500 status changes
    Sources used for this update (9)
    1. KGW — Nike falls out of S&P 100 as shares tumble 39% this year
    2. Fortune — Nike exits the S&P 100 after 18 years and a $200 billion market-cap wipeout
    3. WWD — Nike’s Elliott Hill Aims to Squash Scepticism Over Turnaround Strategy
    4. Fox News — Nike forgot that Republicans buy sneakers, too, and now it's getting booted from the S&P 100
    5. Bloomberg — Nike Reassures Executives That Its Stock Is Still in the S&P 500
    6. Yahoo Finance — Why Nike and Lululemon are struggling: 'A lot of surface area to defend'
    7. OregonLive.com — Nike CEO expresses ‘growing confidence’ in turnaround effort as stock continues to falter
    8. Retail Dive — Nike, Simon Property Group dropped from S&P 100
    9. www.yahoo.com — Fact Check: FAKE Ad Featuring Sydney Sweeney In Nike Branding Is AI-Generated -- No Official Nike Campaign Exists
    confidence 90%
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