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Stock impact report

Why Allbirds is eating crow [Yahoo! Finance]

Allbirds, Inc. - Class A (BIRD) 
Company Research Source: Yahoo! Finance
Springtime is a good time for most birds, but not Allbirds. In the past few weeks the direct-to-consumer shoe brand has made moves emblematic of its startling descent, from unicorn status and a valuation in the billions on the day of its initial public offering. Last month the conglomerate that owns Aerosoles snapped up its intellectual property and some other assets for a relatively paltry sum: under $40 million. The remnants of the company, to be dubbed “NewBird AI,” will become a tech firm specialized in “AI compute infrastructure, with a long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider.” The latter move confused a lot of observers , though it did spike the share price and garnered $50 million from an unnamed investor. “It is arguably an inauspicious end for Allbirds as a stand-alone business and is another signal that the DTC bubble has now firmly deflated,” GlobalData Managing Director Neil Saunders said in emai Show less Read more
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