Nike exits the S&P 100 index on September 21, making room for four technology companies: Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk, which move up from the S&P 500. Honeywell Aerospace, Simon Property Group and Colgate-Palmolive also leave the index on the same date. Nike shares closed at $38.40 on Friday, their weakest level in 12 years, having lost about half their value over the past year and roughly 76% over five years. The company’s market capitalization has dropped from approximately $264 billion at the end of 2021 to around $57 billion today, while the S&P 100 gained 83% over the same five-year period.
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