Nike Kicked off the S&P 100. Woke to Broke. Nike stock is trading at $36.62, near a 12-year low. The company is worth about $54 billion, down from more than $263 billion at the end of 2021. On September 21, Nike will also be removed from the S&P 100 after roughly 18 years. Nike became so confident in the power of its name that it forgot customers still had to want the product.
In my opinion, while Nike was busy proving how woke it could be, other brands were figuring out how to take its customers.
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