Nike exits S&P 100, shares down 80% from peak, recovery uncertain

Nike has been removed from the S&P 100 index, with shares trading nearly 80% below their 2021 peak. The company continues to struggle with strategic missteps that have allowed competitors to gain market share, and Wall Street remains skeptical of a near-term recovery. This marks a significant decline for a former market leader, though the broader market impact is limited to the consumer discretionary sector.