Nike to exit S&P 100 index after hitting weakest valuation in 12 years

Nike is set to leave the S&P 100 index on September 21st after hitting its weakest valuation in 12 years. FOX Business contributor Josh Schafer explains the athletic retailer's struggles, including a failed direct-to-consumer shift.

Nike prepares to leave the S&P 100 index on September 21 after hitting its weakest valuation in 12 years on Friday. FOX Business contributor Josh Schaefer details the company's direct-to-consumer struggles and fierce brand competition. Schafer highlights that Nike lost 76% of its value over five years, underperforming the broader market as consumer behaviors shift.