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Struggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 300%
Allbirds announced a deal with American Exchange Group to sell its intellectual property and other assets for $39 million in March.
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cnbc.com
Struggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 300%
Allbirds announced a deal with American Exchange Group to sell its intellectual property and other assets for $39 million in March.
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arstechnica.com
Bubble watch: Fashion brand Allbirds pivots hard to become AI services company
Desperate stock-boosting move recalls 2017's "Long Island Blockchain" frenzy.
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theguardian.com
Shares in Allbirds surge after maker of wool sneakers announces pivot to AI
Rebrand as NewBird AI sent shares up 582% in bizarre and rapid turnaround for firm that had fallen on hard times
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bbc.com
Allbirds shares soar after pivot from footwear to AI
The company is selling off its shoe brand as it plans to shift to providing technology infrastructure.
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Retail traders pile into Allbirds after odd AI pivot. History shows it won't end well
This surge of speculative buying reflects a broader return of animal spirits among small traders.