Welp. Nike can't say they weren't warned.
After years of embracing all of the worst of wokeness and DEI, from Colin Kaepernick to body positivity, the company that was once the undisputed king of athletic shoes and apparel is finding out that when you go woke, it's only a matter of time before you go broke.
In a couple of weeks, the dream child of Phil Knight and Bill Bowerman in Oregon will be removed from the S&P 100 after spending nearly two decades on the blue-chip index.
JUST IN: Nike is being removed from the S&P 100 after 18 years as the stock has crashed nearly 80% over the past 5 years$NKE currently trades at $38.40
— Kalshi Finance (@Kalshi_Finance) September 5, 2026
Wow! An EIGHTY PERCENT share value crash in five years.
Talk about a massive FAFO.
Yahoo Finance offered more details about Nike's financial woes:
The math is brutal. Nike closed at $38.40 on Friday, its weakest level in 12 years. The stock has lost about half its value in a year and roughly 76% over five years.
Market value tells the same story. Nike is worth close to $57 billion today, down from about $264 billion at the end of 2021. The S&P 100 gained 83% over those same 5 years.
Yikes.
With a collapse like that, no one can blame Standard & Poor's for wanting nothing to do with what Nike has become.
Holy s*** ! @Nike 🤣 pic.twitter.com/ovOIj2orN5
— KJ (@kdawgf1) September 5, 2026
Holy s*** is right.
And everyone saw it coming except the executives at Nike.
— Nathan Dahm (@NathanDahm) September 6, 2026
Recommended
More like "break the floor."
This guy is the most efficient brand killer in corporate history.
— The Heretical Liberal 🇨🇦 (@Rob_ThaBuilder) September 5, 2026
Just an absolute weapon of mass destruction https://t.co/XHJemOLADw pic.twitter.com/pgMN6Rv1uN
At least Anheuser-Busch/InBev seems to be trying to course-correct after its woke disaster with Dylan Mulvaney.
For Nike, it has been full-speed ahead with trying to erase women in favor of men wearing womanface.
Wow.
— Jennifer Sey (@JenniferSey) September 5, 2026
End of an era.
Unforced errors all around. https://t.co/4X8zcCi1p5
Nike wouldn't even stand up to or reject wokeness when BLM and Antifa rioters were looting their stores.
But they sure do seem to hate the Betsy Ross American flag.
Complete own goal btw. Nike could have been an American staple for the next 100 years but they decided to go all-in on woke and now they are going broke. They should've consulted MJ. https://t.co/lsWCgu2bp4
— Aesthetica (@Anc_Aesthetics) September 6, 2026
The greatest basketball player in history, who played a critical role in Nike's ascendancy, could have reminded them that women buy sneakers too. Especially women who get cheated out of scholarships and medals by mediocre men.
Remember when they were bragging about this in 2019? lol pic.twitter.com/lCKE0blH26
— 🇺🇸Čino 🇭🇷 (@CM1488_87) September 6, 2026
They went all in on the Kaepernick campaign and it worked until it didn't. https://t.co/GYiOWUdnlJ pic.twitter.com/pIw5Mm3keA
— Upstate Federalist (@upstatefederlst) September 5, 2026
Maybe putting all your eggs in the basket of a substandard quarterback who got benched for Blaine Gabbert wasn't the best idea.
(Nothing against Blaine Gabbert, but he's not exactly an NFL Hall of Famer.)
— Ultra Dark Tamara 😍🇺🇲🧲🧬🔥🥁🏋️♂️ (@TamaraInphilly) September 6, 2026
They screwed it, alright.
"It," in this case, being the pooch.
Easiest fix in the world. Admit you were wrong about going woke (they’d never). Bring back manufacturing to America where it belongs. Increase quality over the Asian sweat shop slop they have now. Save Women’s Sports. So easy a caveman could do it.
— Graidar (@Graidar) September 6, 2026
They'll never apologize, and they'll never bring manufacturing back to America to increase quality.
At least not under current leadership. But being removed from the S&P 100 might be the catalyst for a massive house cleaning (if only the institutional shareholders weren't also woke).
Nike believed in something (a race grift) and sacrificed everything.
— Woden The Wanderer (@WodenWanderer) September 6, 2026
Just like their ad predicted. https://t.co/3ulUOmykVM pic.twitter.com/OhyVCLzbFD
Perfection.
Sometimes Lady Karma can serve up her brand of justice so poetically, it brings a tear to our eyes.
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