Nike will be making an exit from Wall Street's prestigious S&P 100 index after nesting there for around 18 years on Sept 21, 2026 according to a press release by the S&P index .
The S&P 500 sub-set is composed of 100 major, highly stable blue-chip companies across multiple industry groups on the Wall Street. Nike, unfortunately, will not be one of them.
Despite its globally recognised motto, the sportswear company lost its 'just do it' stability somewhere along the $220 billion market value wipe out. Currently, its market capitalisation stands at around $57 billion.
In fiscal 2026, Nike posted a $46.4 billion top-line, down 2% year-on-year, while Greater China revenue declined 11%.
Nike's downfall originated from an aggressive Direct-To-Consumer strategy that damaged its channel relationships, according to reports.
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Additionally, some other factors which dragged the company include a letharhic product innovation, erosion of brand premium, and high competition from Anta, Li Ning, HOKA, and other rivals
As part of S&P's standard re-structuring, Honeywell Aerospace, Simon Property Group and Colgate-Palmolive join Nike on the list of S&P 100 departures. On the flipside, Dell Technologies, Palo Alto Networks, Arista Networks and Sandisk will be entering the index.
However, Nike shares are only being bumped down from the S&P 100 index, and will still trade on S&P 500 index as the exit does not translate to de-listing from the New York Stock Exhchange (NYSE) entirely.
Notably, index-tracking funds will need to reduce their Nike holdings under index rules, potentially creating near-term selling pressure for the stock.
The stock has faced continous downside pressure since and has fallen over 48% in the last 12 months, and around 33% in the last six months alone. The scrip settled nearly 1% lower at $38.40 on Friday.
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