Nike Shares Holding Steady After S&P 100 Drop

Footwear News · Courtesy of Nike

Vicki M. Young

Tue, September 22, 2026 at 11:59 PM GMT+3 2 min read

Nike Inc. shares remain actively listed and traded on the Big Board as it continues to be a part of the broader S&P 500 Index.

The listing was dropped from the prestigious S&P 100 — a subset of 100 mega-cap, blue chip firms from the S&P 500 — on Monday following a 78 percent decline in the stock price. That decline saw a corresponding drop in market capitalization that was no longer representative of the S&P 100 range. The S&P Indices are routinely rebalanced every quarter.

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Shares of Nike closed on Tuesday at $36.10, the same as Monday's closing price and above Friday's close of $35.51 when it was still part of the S&P 100. At one point, shares of Nike on Tuesday posted an intra-day high of $37.03. That's still far below the $66 to $67 trading range for Nike shares this past February, representing a 45 percent decline thus for 2026.

Nike is set to report first quarter earnings results on Oct. 1. Depending on results, and maybe more importantly what the company says about its outlook and projections, shares could go either higher or lower.

Nike's troubles go back to 2020 at the onset of the COVID pandemic. A shift from wholesale to direct-to-consumer and lack of product newness turned out to be the wrong strategy for the Swoosh. And former chief executive John Donahoe was later replaced by incoming chief Elliott Hill in 2024.

Hill chose to focus first on Nike Running, which has shown success and serves as a playbook for forays into other categories of the business that Nike needs to turn around. The reason why the turnaround is taking longer is due to unexpected hiccups in its China operation and across European sales due to inflationary pressures and higher promotional activity.

But Hill has said to investors during the firm's fourth quarter earnings conference call on June 30 that the sportswear division will be introducing more than a dozen new footwear styles in the second half of fiscal year 2027, which starts next January. Some of the newness that's on the agenda came last month when the Swoosh introduced a new training footwear system — the Hybrid Fly and Hybrid RN, available in men's and women's — giving the brand athletic performance shoes to help Hyrox athletes move from running to lifting and dynamic movement without sacrificing speed, stability or traction.

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Nike Shares Holding Steady After S&P 100 Drop

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