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Biggest 'Go Woke, Get Broke' Story Of A Generation: S&P Nukes Nike From Elite Blue-Chip Index
S&P Dow Jones Indices announced Friday that Nike is being booted from the S&P 100 after nearly two decades, another sign of how America's most exclusive blue-chip benchmark is being reshaped by the artificial-intelligence spending boom. But that's not the entire story...
Perhaps what really happened with Nike is that it lost its way. Instead of focusing on basketball shoes and athletic leisure, it pursued the whole woke culture, which damaged the brand.
Injected itself into far-left politics.
And this ...
BREAKING: Nike is set to be removed from the S&P 100 after nearly 18 years.
The stock is now down almost 80% from its 2021 peak, turning one of the market’s most iconic consumer brands into one of its biggest recent disappointments. pic.twitter.com/3uJNIxcg4j
Via Fox News...
Not surprising whatsoever who accelerated Nike's demise.
LMAO, look at the marketing & strategy officers for Nike.
Don’t worry, guys; I’m sure Nike will climb out of the huge woke hole they are in 🥴🫠 pic.twitter.com/7CXinp8VUA
S&P Dow Jones Indices noted that Nike will remain in the broader S&P 500.
Nike's peak was in late 2021, when it sported a $280 billion market cap that has since crashed to as low as $56 billion following Friday's close, its lowest market capitalization since 2013.
No longer a growth story?
Nike's upcoming demotion from the S&P 100, set to take effect on Sept. 21, comes after a series of missteps as the sportswear giant struggles to revive sales and has lost market share to rivals including On and Hoka.
Perhaps management should not have focused on left-wing cultural issues but instead on clothing and sneakers.
Tyler Durden Sun, 09/06/2026 - 15:30Notre Dame vs. Wisconsin Football: Where To Watch, Channel, Time, Free Streaming Info
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Trump: Michael Cohen Recanted Testimony Behind NY Cases
Authored by Luis Cornelio via Headline USA,
Michael Cohen, a key witness in the New York criminal and civil cases against President Donald Trump, has "fully recanted" his testimony in both cases, the Republican president announced Friday via Truth Social.
Previously known as Trump's longtime fixer, Cohen was used by New York Attorney General Letitia James in her controversial civil lawsuit against the Trump Organization and by Manhattan District Attorney Alvin Bragg in his so-called hush money case against Trump.
The civil case against the Trump Organization culminated in a $364 million fine over claims Trump inflated his asset values to secure more favorable loans for his business. The fine was tossed by the New York Appellate Division, which ruled the amount violated Trump's Eighth Amendment rights.
In his Truth Social post, Trump said Cohen was "pressured" and "coerced" into saying "things that were not true."
The fallout between Trump and Cohen began after the 2016 election, after Cohen started cooperating with federal prosecutors.
Cohen was sentenced to three years in prison and served more than a year behind bars after pleading guilty to multiple charges, including making false statements to Congress.
Trump and Cohen have made amends in recent months, particularly after Cohen came forward saying he was pressured by New York prosecutors to testify against Trump.
Trump thanked Cohen "for having the Wisdom and Courage to step forward and do the right thing!"
"His Act of Bravery is a Great Credit to the Justice System in New York City and State," Trump added, before demanding that the cases be dismissed.
"I am sure it was not easy for him! Now we are asking that any remnant of those Politically Weaponized Cases against me be immediately terminated and dismissed."
The president said that James and Bragg "broke the law in order to do this in order to prevent me from becoming the President of the United States. Such a thing can never be allowed to happen again!"
Trump appeared to be referring to a Jan. 16, 2026, Substack post in which Cohen accused prosecutors from James' and Bragg's offices of pressuring and coercing him to provide testimony that would help them build their cases against Trump.
TRUMP: Reposts Michael Cohen article claiming political power corrupts justice, citing insider warning pic.twitter.com/FlydWGDuBI
— Trump Truths (@trumptruthsbot) September 4, 2026Cohen wrote at the time:
"From the time I first began meeting with lawyers from the Manhattan DA's Office and the New York Attorney General's Office in connection with their investigations of President Trump, and through the trials themselves, I felt pressured and coerced to only provide information and testimony that would satisfy the government's desire to build the cases against and secure a judgment and convictions against President Trump."
He later added:
"I experienced a similar dynamic in the Attorney General's civil case. Letitia James made it publicly known during her 2018 campaign for attorney general that, if elected, she would go after President Trump. Her office made clear that the testimony they wanted from me was testimony that would help them do just that. Again, I felt compelled and coerced to deliver what they were seeking."
Tyler Durden Sun, 09/06/2026 - 15:00