Nike exits S&P 100 after hitting weakest valuation in 12 years

VIA FOX NEWS ON X:

Nike’s 18-year run on the S&P 100 is officially over after it hit its weakest valuation in 12 years. Critics say the company’s decade of “woke” messaging is to blame.

Shares of the sportswear giant are down 43% on the year, with Nike losing some $200 billion in market cap since its 2021 peak as it faces stiff competition.

And it’s not just for products. Soccer superstar Kylian Mbappé is ending his roughly 20-year run with Nike to sign a sponsorship deal with On.

qJeff Flock explains what’s next for the sports giant.