Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

Automated excerpt

From the company’s $264 billion peak in Nov. 2021 (when Nike shares traded at $179. 10), the company is currently worth roughly $57 billion today, down 78%, as shares for the company are currently trading at around $38 apiece. According to Nike’s investor report, the company’s underlying business deteriorated as it reported $46. 4 billion in fiscal 2026 revenue, down 2% on a currency-neutral basis. The company’s direct-to-consumer business has also struggled, with FY2026 direct-to-consumer revenue falling 6% to $17. 7 billion—and wholesale revenue increased 6% to $27. 5 billion according to Nike’s results.

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