GET WOKE, GO…: Nike To Leave the S&P 100 on September 21.
Nike is set to leave the S&P 100 before U.S. trading opens on September 21, 2026, according to S&P Dow Jones Indices. The change was announced on September 4 as part of the index provider’s quarterly rebalance.
The sportswear company joins Honeywell Aerospace, Simon Property Group and Colgate-Palmolive on the list of S&P 100 departures. Dell Technologies, Palo Alto Networks, Arista Networks and Sandisk will enter the index.
Nike will remain in the S&P 500; S&P Global describes the narrower S&P 100 thusly:
The S&P 100, a sub-set of the S&P 500®, is designed to measure the performance of large-cap companies in the United States and comprises 100 major blue chip companies across multiple industry groups. Individual stock options are listed for each index constituent.
As legendary fictitious rock manager Ian Faith would say, their appeal is becoming more selective: Nike Stock Is Down 78% From Its All-Time High. Is This the Once-in-a-Decade Setup for Patient Investors?
But why did Nike stock drop so precipitously? Former Levis president Jennifer Sey has some flashbacks:
Nike stock down 68% since the Dylan Mulvaney social media campaign.
They made a lot of other mistakes. But this certainly didn't help matters. https://t.co/tMmq3ROwPt
— Jennifer Sey (@JenniferSey) September 5, 2026
Nike has a made a lot of mistakes.
They all pretty much come back to disrespecting or just forgetting about their core loyal customer. They abandoned broad reach wholesale distribution where every day folks buy (or bought) Nike. Neglected the running category. And treated women… https://t.co/Wvyg44FEwo
— Jennifer Sey (@JenniferSey) April 2, 2026
Prior to Mulvaney, Nike had few other missteps as well:
In 2025, Nike displayed this billboard at the London Marathon:
The previous year, Nike was all too happy to dial the War of the Sexes up to 11: New Ultra-Woke Nike Ad Says WNBA Dynasty ‘Makes Men Look Like Amateurs.
“A dynasty that makes Alexander the Great look like Alexander the Okay.”
Nike embraces anti-white wokeness with its latest ad. You are witnessing corporate pandering to black resentment the likes of which you’ve never seen. pic.twitter.com/YcBSwGCx1p
— Ian Miles (@ianmiles) October 11, 2024
In November of 2021, as the world emerged from a pandemic during which numerous publications wrote that obesity could greatly increase the effects of Covid-19, a manufacturer of athletic footwear released this showstopping image:
Well, Nike sure owned the floor.
And busted right through it.
Get woke, go broke. https://t.co/g5X7ZTP0OB pic.twitter.com/p02TlCkZsc
— Spencer Pratt (@spencerpratt) September 6, 2026
Things began getting awfully weird at Nike in 2019, starting most prominently when they issued a pair of Betsy Ross-flag embedded sneakers, likely only so that uber-woke Nike endorser Colin Kaepernick could dunk on them, to coincide with the Fourth of July. In Nike’s collective mind, this was evil and “offensive:”
In 2018, Kaepernick was Patient Zero in Nike’s collapse: Colin Kaepernick part of Nike’s 30th anniversary of ‘Just Do It’ campaign.
