Overview
- S&P Dow Jones Indices confirmed that Nike will leave the S&P 100 on September 21 and that Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk will be promoted into the index.
- Nike’s market value has collapsed to roughly $57 billion from a 2021 peak near $264 billion and the stock is trading close to its 52‑week low.
- Fiscal 2026 revenue was flat at about $46.4 billion with declines in Nike Direct, digital sales and Greater China weighing on the company’s top line.
- Insiders and some institutional holders have been selling shares recently, and index‑tracking funds must sell departing names and buy the replacements, a dynamic that has already moved prices such as SanDisk’s higher.
- The reshuffle shifts the S&P 100 toward chips, cloud hardware and cybersecurity, and investors will be watching near‑term earnings and China sales for signs that Nike’s turnaround can restore its market weight.