Nike Falls Out Of The S&P 100. They Earned It.

After 18 years in the S&P 100, Nike is out. The company will be removed from the index of the largest, most stable U.S. mega-caps before the market opens on September 21. The company is still large. It is no longer stable.

From its 2021 stock-price high, Nike has fallen about 78%. It lost close to 80% of its market capitalization in five years. In the Fortune 100, it has hung on by a thread: it entered at number 91 in 2016, peaked at 83 in 2022, and barely made it in this year at number 99.