Nike’s Status in the Dow Jones Industrial Average
Nike is now the lowest-priced stock in the Dow Jones Industrial Average following the recent replacement of Verizon by Alphabet on June 29, 2024. Currently, Nike’s share price is hovering around a 12-year low, making it just 0.5% of the index. Since its addition to the Dow in 2013, Nike has reported a total return of only 39.6%, falling far behind its peers.
The company has struggled to regain traction after shifting to a direct-to-consumer model, exacerbated by strained consumer spending and inflation. While Nike’s turnaround efforts are ongoing under new CEO Elliott Hill, who took over in October 2024, it may not see significant improvements until spring 2027. As it stands, analysts suggest that if Nike were to be replaced in the Dow, companies like Meta Platforms could be potential successors.
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