NIKE IS LOSING ITS PLACE AT THE TOP
The sneaker giant is being removed from the S&P 100. Here’s what happened.
For years, Nike was one of the most recognizable and valuable companies in America.
Now, it is losing its place among the 100 largest U.S. companies.
On September 21, 2026, Nike will be removed from the S&P 100 as part of the index’s quarterly rebalance.
But there’s an important detail:
Nike is NOT leaving the S&P 500.
It is being removed from the S&P 100 because its market value has fallen enough that it no longer qualifies for the index.
WHAT HAPPENED TO NIKE?
Nike has been going through one of the most difficult periods in its recent history.
Its stock has fallen sharply from its recent highs.
The company has faced weaker demand, pressure from competitors, changing consumer preferences and a difficult attempt to rebuild momentum in its core business.
And when a company’s market value falls, something interesting happens:
Its position in major stock indexes can change too.
THE INDEX IS CHANGING
Nike is being replaced in the S&P 100 by Dell Technologies.
Other companies, including Palo Alto Networks, Arista Networks and Sandisk, are also joining the index.
Nike remains a giant.
It still has one of the most recognizable brands in the world.
But being a giant doesn't mean you're guaranteed a place at the top forever.
Markets constantly reshuffle the winners.
Nike didn't stop being Nike.
Its value simply fell enough for the market to stop treating it like one of the 100 biggest U.S. companies.
And that's one of the most important lessons in business:
Reputation can last for decades.
Market value can change in months.
