Nike, the leading sportswear company, is set to exit the S&P 100 index on September 21, ending an 18-year presence. This change follows a substantial decrease in the company's market value, which has fallen from a peak of $264 billion in November 2021 to approximately $57 billion today, representing a nearly 80% drop. The decline is attributed to ongoing business challenges, including a 2% revenue decrease in fiscal 2026 and continued sales struggles in Greater China, where sales dropped 17% in the last quarter. Nike's direct-to-consumer revenue also fell by 6%, while wholesale revenue saw a modest increase. Under CEO Elliott Hill, the company is focusing on rebuilding wholesale partnerships, reducing excess inventory, and emphasizing performance products. The company faces strong competition from both domestic Chinese brands and international rivals. The removal from the S&P 100 reflects broader market adjustments, with technology companies replacing some traditional blue-chip firms. Despite the exit, Nike will remain part of the S&P 500 index.