@blogdiva
Interesting. Lots of questions here ...

So this wasn't just acquisition, $39Mn is to be paid for IP + furniture and *immediately wound up*.

"Asset Sale and subsequent dissolution and winding down of the Company (the “Dissolution”), is expected to be filed no later than April 24, 2026"

So $39Mn goes out of an ostensible marketing agency for acquisition of irrelevant IP and the purchased coy immediately shuttered. Simultaneously $50Mn flows back into the marketing agency for buying GPU's

I don't see any mention of the wound up corpse of Allbirds™ being renamed so I guess its the marketing agency changing its name.

There is no legit business reason for AXNY to buy and bury Allbirds™

#fascinating #dodgyasfuck

https://ir.allbirds.com/news-releases/news-release-details/allbirds-signs-definitive-asset-purchase-agreement-american

@blogdiva
My understanding of the article:

° An extremely faddish product

° Stock previously valued at a sky high $4bn USD

° Sales dropped to ZERO

° All stores closed

° Stock valuation 99% lost

° Sold off to a marketing coy

° Worthless brand name changed

° New owner handed $50Mn by 'unnamed investor' to buy GPU's for renting out in LLM use

My question is why would anybody with a cool 50 mill to blow do this when they could just register a coy and proceed anyway?

What hidden value did a defunct niche shoe coy provide for the totally unrelated biz of a marketing coy dipping its toe into renting out GPU's?

Hail Mary play by Allbird exec who had stashed some cash?

Convoluted insider trading/tax dodge?

Money laundering?

Pump'n dump? (most likely imho)

In the end the only net positive is the worthless stock price has surged. I'd be watching very closely who has a big stake and do they sell off shortly after numb nuts stock investors throw away good money on this.

#fascinating #dodgy