Nike to be removed from S&P 100 after 18 years

Nike will be removed from the S&P 100 index after an 18-year membership in the large-cap benchmark. The change will take effect on September 21 as part of S&P Dow Jones Indices’ quarterly review of the index.

The sportswear company will retain its place in the broader S&P 500, but its departure from the S&P 100 marks a notable fall in market standing. The S&P 100 tracks 100 of the largest and most established U.S. companies drawn from the S&P 500.

Nike’s shares have tumbled approximately 78% from their 2021 peak, erasing more than $200 billion in market capitalization. The sustained decline has pulled the company below the size threshold for inclusion in the elite mega-cap benchmark.

Cybersecurity firm Palo Alto Networks will replace Nike in the S&P 100, taking its spot among the largest publicly traded American companies. The switch reflects deepening investor concern over Nike’s slowing growth and intensifying competition in the global athletic apparel market.