Nike SB has become a huge part of skateboarding over the years, from the SB Dunk to pro shoes and a deep roster of riders.
According to reports, the skate shoe giant is dealing with another difficult moment away from the skate scene, with Nike set to leave the S&P 100 after roughly 18 years.
S&P Dow Jones Indices announced that Nike will be removed from the index before the market opens on September 21, 2026.
Palo Alto Networks will take its spot, while Nike will remain part of the broader S&P 500.
For skateboarders, Nike’s financial situation is worth keeping an eye on because Nike SB has grown into one of the most visible skate footwear divisions in the industry.
The brand has worked with skaters across different generations and built a huge following around shoes such as the SB Dunk Low, along with signature models and collaborations.
Nike has also been dealing with cost cutting across the company.
As we previously reported, Converse reduced its marketing budget to 44 percent as Nike looks to control spending.
READ MORE: Corporate Skate Shoe Giant Nike Cuts Converse Marketing 44% Despite CEO’s Turnaround Promise
The company has also gone through layoffs and hired a new CFO as it works through its current financial problems.
Nike’s stock has fallen roughly 78 percent from its record high in 2021. Shares dropped to around $39 in August, which was the lowest price since 2014. That is a long way from November 2021, when Nike reached more than $170 per share.
READ MORE: Corporate Skate Shoe Giant Faces Trouble as Nike Stock Falls 40% Over the Last Year
The company has been dealing with slower sales, weaker direct to consumer results and changes within its retail strategy. Nike is now working on getting consumers interested in its products again while rebuilding relationships with wholesale retailers.
Nike SB has continued to release new shoes and work with its team during this period. The division has also remained closely connected to skate shops, skate videos, collaborations and the professional scene.
That makes Nike’s financial situation something worth watching from a skateboarding perspective.
A company of Nike’s size has many different divisions, and changes at the corporate level can eventually affect budgets, marketing, product releases and the resources available to individual brands.
READ MORE: Corporate Skate Shoe Giant Nike Cuts 1,400 Jobs as Restructuring Includes Converse Operations
Right now, Nike is still part of the S&P 500 and remains one of the biggest names in footwear. Its removal from the S&P 100 does not change Nike SB’s place in skateboarding, but it does show how much the company has fallen from its stock market peak.
With Nike continuing its turnaround, skateboarders will have to wait and see what the changes mean for Nike SB and the brand’s plans for skateboarding.