Nike (NKE) Loses $220B and Its S&P 100 Spot to Tech

financefeeds.com · 2026-09-07

Nike (NKE) fell 78%, erasing $220 billion, and is being dropped from the S&P 100 on September 21. An AI chipmaker worth four times as much takes its place.

TickrTrends take: Nike's loss of market capitalization and its removal from the S&P 100 index reflects significant investor concerns about the athletic apparel company's competitive position and growth prospects. In the Consumer Defensive sector, where Nike operates, such a sharp revaluation can create divergences between market sentiment and underlying fundamentals that valuation metrics track. Given TickrTrends' current assessment of undervaluation, investors focused on valuation should monitor whether Nike's operational performance and cash flows justify a potential recovery, or whether the market's repricing reflects structural challenges in the sector.

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