American sportswear and apparel manufacturer Nike will be removed from the prestigious S&P 100 index after 18 years. The decision is attributed to the weakening performance of the company’s stock. Nike will be replaced in the index by several technology firms. This marks a significant change for the iconic American brand and reflects shifts in the market capitalization of major US companies. The S&P 100 index tracks the performance of the 100 largest companies listed on American stock exchanges. The exit signals investor concerns regarding Nike’s recent financial performance and future prospects. The changes to the index will take effect with the next rebalancing.