Nike drops out of S&P 100 for first time in 18 years

Corporate ActionAnalyst

โดย Kaohoon·

Summary · why it matters

S&P Dow Jones Indices announced the removal of Nike from the S&P 100 index during its quarterly rebalancing, effective before the market opens on September 21, 2026. This marks the first time Nike has been excluded from the group of 100 largest U.S. companies since 2008, following a nearly 80% decline in its share price from the 2021 peak, with shares now trading at an average of $38.40. Nike's spot has been taken over by technology stocks such as Dell Technologies, Palo Alto Networks, and Arista Networks. The rebalancing also includes the removal of Honeywell Aerospace, Simon Property Group, and Colgate-Palmolive, with four companies added, all in the Information Technology sector: Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk, according to the GICS industry classification. Nike remains in the S&P 500 index as usual. This adjustment reflects the increased weight of the technology sector in the S&P 100, which stood at 43.8% as of August 31, 2026, compared to the Consumer Discretionary sector, where Nike belongs, at just 9.6%. Nike's stock closed on September 3, 2026, at $38.77, compared to its intraday high of $179.10 in November 2021, representing a 78% decline. Meanwhile, JPMorgan has downgraded its recommendation to Underweight, and the market is watching the Capital Markets Day in November 2026 for strategic plans. Analysts estimate that a recovery in profit margins and the launch of new product lines may have to wait until 2027.

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