Nike is scheduled for removal from the S&P 100 index at the conclusion of this month, marking the end of the footwear giant's nearly 18-year tenure in the elite grouping. The exclusion follows a significant downturn in equity value, with shares plummeting 80% from their previous record high.
The company's market capitalization has contracted by $230 billion since reaching its peak valuation. This substantial decline in market value precipitated the index reshuffle, concluding a nearly two-decade presence in the large-cap benchmark.