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Nike's 78 percent stock decline just cost it a seat on the prestigious S&P 100 Index.
The S&P 100 is a subset of 100 mega-cap, blue chip firms that are part of the S&P 500. These 100 large-cap stocks are the largest and most established companies of the broader S&P 500. But with Nike's stock price declines, the firm's market capitalization is no longer representative of the S&P 100 range. The S&P Indices are routinely rebalanced every quarter.
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