Nike IncPersistent sales weakness in China and strained wholesaler relationships
Nike is predicted to be removed from the Dow Jones Industrial Average within the next 12 months, with Tesla or Airbnb seen as the most likely replacements. The forecast follows the recent removal of Verizon Communications and addition of Alphabet to the 30-stock index. Nike's share price has fallen below $40, making it by far the lowest-priced component in the price-weighted Dow and giving it minimal influence. The company also faces persistent sales weakness in China and strained wholesaler relationships amid a multi-year turnaround. Tesla, with a share price of $420.60, would add consumer and energy exposure, while Airbnb, at $143.10, would link the index to the $11.6 trillion travel industry.
Nike IncPersistent sales weakness in China and strained wholesaler relationships
Airbnb IncMentioned as potential Dow replacement, linking index to travel industry
Alphabet Inc Class C
NVIDIA Corporation
Tesla IncMentioned as potential Dow replacement, adding consumer and energy exposure
Verizon Communications Inc