Nike’s Ouster from S&P 100 Signals Deep Market Cap Decline

Nike, the global sportswear juggernaut inspired by the Greek goddess of victory, is facing a significant blow as it is set to be removed from the prestigious S&P 100 index for the first time in roughly 20 years. The company, once valued at a staggering $264 billion in November 2021 at a share price of $179.10, now finds itself diminished to around $57 billion, marking a drastic 78% decrease with shares hovering at approximately $38 each. This rapid descent culminates in Nike’s impending exit from the S&P 100 on September 21, following a staggering 36% decrease in market value in…