Nike shares lose 80% of their value in 5 years, to be removed from S&P100

The stock of Nike will be removed from US' S&P 100 on September 21 after an 18-year run. This comes after Nike's stock declined nearly 80% in five years from its record high, currently trading around $38 to $40, a level the sportswear giant hasn't seen in 12 years. Nike has lost over $230 billion in market capitalisation.