Business & Finance
Nike set to be removed from S&P 100 after market valuation drops
Nike will exit the mega-cap index after an 18-year run, according to Fox News.
The short version
- S&P Dow Jones Indices announced that Nike will be removed from the S&P 100 before trading begins on Sept. 21.[Fox News]
- Nike's market capitalization has fallen from approximately $281 billion in late 2021 to around $56.5 billion.[Fox News]
- The apparel company's revenue in Greater China declined from $8.29 billion to $5.85 billion over five years.[Fox News]
Key facts
- S&P Dow Jones Indices announced Nike will exit the S&P 100 index before market trading opens on Sept. 21, concluding a run of nearly 18 years.[Fox News]
- Nike's market capitalization dropped to roughly $56.5 billion, declining substantially from a November 2021 peak of approximately $281 billion.[Fox News]
- Nike's revenue in Greater China fell from $8.29 billion in 2021 to $5.85 billion five years later.[Fox News]
What remains uncertain
- Whether Nike ever actively funded a proposed study on transgender youth athletes remains disputed, as an unnamed executive stated it never initialized while a researcher claimed Nike withdrew after public criticism.[Fox News]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.