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Stock impact report

Jim Cramer Says “Allbirds (BIRD) Wasn't Even a Successful Shoe Company” [Yahoo! Finance]

Allbirds, Inc. - Class A (BIRD) 
Company Research Source: Yahoo! Finance
Why am I so adamant that speculation is getting out of control again? Well, exhibit A has to be a company called Allbirds… Six weeks ago, Allbirds seemed to be headed into the dustbin of history… It doesn't make any money. But rather than shut down, it did something I'm sure it thought was genius. Allbirds sold its shoe business to American Exchange Group, and it announced a definitive agreement with an institutional investor for a $50 million convertible bond, which, and I'm quoting from the release here, “will enable the company to pivot its business to AI compute infrastructure, with a long-term vision to become a fully integrated GPU-as-a-Service and AI-native cloud solutions provider.” Yep, they pivoted from casual shoes to AI, and they're changing the name to NewBird AI. The company sees a need for more compute and it's going to bridge the gap. They say that NewBird AI will, and I quote, “initially seek to acquire high-performance, low-latency AI compute hardware and provide Show less Read more
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