Krauerking@lemy.lol to Technology@lemmy.worldEnglish · 25 days agoStruggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 400%www.cnbc.comexternal-linkmessage-square22linkfedilinkarrow-up113arrow-down10
arrow-up113arrow-down1external-linkStruggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 400%www.cnbc.comKrauerking@lemy.lol to Technology@lemmy.worldEnglish · 25 days agomessage-square22linkfedilink
minus-squareAbouBenAdhem@lemmy.worldlinkfedilinkEnglisharrow-up6·25 days agoIt doesn’t take much to boost the price of a stock by 400% if the stock is already practically worthless.
minus-squarefrongt@lemmy.ziplinkfedilinkEnglisharrow-up6·25 days ago$3 to $17. That’s a reasonably big jump. But they IPO’d in 2021 around $400 and dropped to $100 in about four months and have been decaying since. From that perspective it’s only a small bump.
minus-squaredogslayeggs@lemmy.worldlinkfedilinkEnglisharrow-up3·25 days agoIt’s insane they were valued that high to begin with.
minus-squareMangoCats@feddit.itlinkfedilinkEnglisharrow-up2·25 days agoIt’s not the per-share, it’s the market cap.
minus-squareKrauerking@lemy.lolOPlinkfedilinkEnglisharrow-up4·edit-225 days agoTouché, but I counter with much being converting a shoe company to a consumer based AI sales company. As in: well that’s a bit much.
minus-squarefloofloof@lemmy.calinkfedilinkEnglisharrow-up3·25 days agoI guess bullshit is easier to make than shoes.
minus-squareGalacticSushi@piefed.blahaj.zonelinkfedilinkEnglisharrow-up1·25 days agoIt converted to a company that sells buzzwords to investors as far as I can tell.
It doesn’t take much to boost the price of a stock by 400% if the stock is already practically worthless.
$3 to $17. That’s a reasonably big jump.
But they IPO’d in 2021 around $400 and dropped to $100 in about four months and have been decaying since. From that perspective it’s only a small bump.
It’s insane they were valued that high to begin with.
It’s not the per-share, it’s the market cap.
Touché, but I counter with much being converting a shoe company to a consumer based AI sales company.
As in: well that’s a bit much.
I guess bullshit is easier to make than shoes.
It converted to a company that sells buzzwords to investors as far as I can tell.