Nike Stock Fell 78% And S&P 100 Exit May Mark Capitulation
Nike will exit the S&P 100 Index on September 21 after a tenure of nearly 18 years, though the company will remain part of the broader S&P 500 Index. The sneaker giant's stock has faced a dramatic downturn, falling nearly 80 percent from its 2021 peak and hitting a 12-year low. This steep drop stems from ongoing challenges in the China market, where revenue fell 11 percent, alongside a 29 percent drop in digital sales and a slow corporate turnaround that targets fiscal 2027 improvement. Four technology stocks will take the departing companies' places in the index.
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- ✓ Nike will be removed from the S&P 100 Index on September 21.
- ✓ Nike stock has fallen nearly 80 percent from its 2021 peak.
- ✓ Nike's run in the S&P 100 lasted nearly 18 years.
- ✓ Greater China revenue fell 11 percent and digital sales dropped 29 percent.
What changed
Nike was officially slated for removal from the S&P 100 Index effective September 21, following a persistent market-value slide and years of tumbling share prices.
Live updates
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Nike S&P 100 Exit Marks Steep Decline After Years of Falling Shares
Nike will exit the S&P 100 Index on September 21 after a tenure of nearly 18 years, though the company will remain part of the broader S&P 500 Index. The sneaker giant's stock has faced a dramatic downturn, falling nearly 80 percent from its 2021 peak and hitting a 12-year low. This steep drop stems from ongoing challenges in the China market, where revenue fell 11 percent, alongside a 29 percent drop in digital sales and a slow corporate turnaround that targets fiscal 2027 improvement. Four technology stocks will take the departing companies' places in the index.
Why it matters
The departure from the prestigious S&P 100 highlights the severe erosion of Nike's market value following years of strategic missteps and regional struggles. Analysts view this index removal alongside the massive share depreciation as a potential capitulation point for the footwear icon. While leadership targets a recovery by fiscal 2027, consecutive quarters of depressed digital and international sales continue to weigh heavily on investor confidence.
What is confirmed
- Nike will be removed from the S&P 100 Index on September 21.
- Nike stock has fallen nearly 80 percent from its 2021 peak.
- Nike's run in the S&P 100 lasted nearly 18 years.
- Greater China revenue fell 11 percent and digital sales dropped 29 percent.
- Nike will remain part of the broader S&P 500 Index.
Still unconfirmed
- Nike stock is ripe for an activist investor.
What to watch next
- The official index removal date on September 21
- Execution and updates regarding the fiscal 2027 turnaround targets
- Future quarterly performance in Greater China and digital sales channels
confidence 100%Sources used for this update (14)
- finance.yahoo.com — Nike Exits the S&P 100 Index. 4 Tech Stocks Move In
- Forbes — Nike Stock Fell 78% And S&P 100 Exit May Mark Capitulation
- Hypebeast — Nike To Leave the S&P 100 on September 21
- The Times of India — Why Nike stock has fallen and what it means for fashion
- Seeking Alpha — Nike: Just Not Doing It (NKE)
- SGB Media Online — Nike To Be Kicked off the S&P 100 on September 21
- Seeking Alpha — Nike booted from S&P 100 after nearly 18-year run (NKE:NYSE)
- The Economic Times — Nike’s shoe doesn't fit: How did the swoosh lose its winning edge?
- Yahoo Finance — Should You Avoid Nike Stock, Even at a 12-Year Low?
- www.ibtimes.com.au — Nike's stock faces significant decline due to China market struggles and removal from S&P 100 index.
- tokenist.com — Nike Stock: Planned S&P 100 Exit Puts Market-Value Slide in Focus
- wwd.com — Nike and This Retail Giant Will No Longer Be Part of This Prestigious S&P Index
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