Nike exits the S&P 100 after 18 years and a $200 billion market-cap wipeout

One of the largest sports and athletic-wear companies of the modern day may be disappointing its namesake. Nike, the sportswear company named after the Greek goddess of victory, is losing its spot in the top 100 U.S. companies for the first time in nearly two decades.

The athletic apparel giant lost over $200 billion in market cap since its all-time high in 2021, a near 80% drop in just the five years that have passed, and a plummet so severe that the once mighty company is no longer listed on the S&P 100.