Nike gets booted from S&P 100 after losing 80% of its value

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Nike (NKE) is being removed from the S&P 100 effective September 21 after an 18-year tenure, following an 80% stock value decline that erased approximately $200 billion in market capitalization. The removal highlights structural business pressures, including significant revenue drops in Greater China and Converse, a failing direct-to-consumer strategy, and downward revisions to earnings estimates. Despite remaining in the S&P 500, analysts view the trend as indicative of long-term decline.