Nike shares hit 52-week low amid S&P 100 exclusion

Nike, Inc. shares reached a 52-week low of $36.55 on Thursday, marking a fourth consecutive session of declines. The stock's downward trend follows the announcement that the company will be removed from the S&P 100 index on September 21, 2026, ending an nearly 18-year tenure in the blue-chip index.

In a separate development, Nike COO Venkatesh Alagirisamy sold 3,671 shares of stock on September 9 at an average price of $37.59, totaling approximately $137,992. The sale was executed under a pre-arranged Rule 10b5-1 trading plan. Following this transaction, Alagirisamy holds 104,862 shares.

Market sentiment remains cautious, with Morgan Stanley analyst Alex Straton maintaining an ‘Underweight’ rating on the stock with a $31 price target.