Nike is set to leave the S&P 100 on September 21 as part of the index’s latest quarterly rebalance.
The S&P 100 tracks 100 of the largest and most established U.S. companies, and Nike will exit alongside Honeywell Aerospace, Simon Property Group, and Colgate-Palmolive. Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk are among the companies entering the index.
The change does not mean Nike is being removed from the S&P 500 or that its stock will stop trading. Instead, it reflects changes in market capitalization and which companies currently represent the upper tier of the U.S. market.