Nike forgot that Republicans buy sneakers, too, and now it's getting booted from the S&P 100

Key Points:

• Nike is being removed from the S&P 100 index after nearly 18 years due to a significant collapse in its market value, which has dropped about 79% from its peak in November 2021.
• The company's market value fell from approximately $281 billion to around $56.5 billion, losing over $220 billion, a decline attributed partly to alienating customers through its left-wing political stances.
• Nike's political activism, including campaigns featuring Colin Kaepernick and partnerships with transgender influencers, contrasted with its business approach in China, where it emphasized commitment despite human rights concerns.
• Despite declaring itself "a brand of China and for China," Nike's revenue from Greater China dropped nearly 30% over five years, highlighting challenges in maintaining its position in that market.
• Once dominant, Nike now faces the challenge of rebuilding its brand and market relationships, underscoring the lesson that appealing to a broad customer base—including Republicans—is crucial for sustained business success.