AI6YR BenApr 15

🙄

CNN: Allbirds shares soar 600% as it pivots from footwear to AI

"Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical fashion Wednesday morning after the company announced an extremely 2026 pivot: abandoning its environmental agenda and getting into the AI business. ....The catalyst came from Allbirds’ announcement that the company, after selling its footwear assets and branding to brand management company American Exchange Group last month for just $39 million, would soon reemerge as a new entity with a focus on “AI compute infrastructure.” .."

https://lite.cnn.com/2026/04/15/investing/allbirds-pivot-to-ai

#bubble #tulipmania #ai

Allbirds shares soar 600% as it pivots from footwear to AI

Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical fashion Wednesday morning after the company announced an extremely 2026 pivot: abandoning its environmental agenda and getting into the AI business.

CNN
Show threadmittenApr 15
@ai6yr The article doesn't say this, but essentially, this is a stealth IPO. The private equity firm bought a dying/dead company for $39M - not for the business itself, but for the fact that it's already on the stock exchange. Much faster and easier than doing a proper IPO for a completely new company.
Show threadLor đź’¬
@mitten @ai6yr THIS^
Apr 15 at 4:51pmWeb
Show threadAI6YR BenApr 15
@lor @mitten LOL I once made a little bit of money in high school (?) on a very similar trend, on Rational, a company which developed (ostensibly) software to build software without having to write code, lol. They did a reverse IPO... eventually bought by IBM.
Show threadElyse M GrassoApr 16
@ai6yr @lor @mitten Rational''s actual tools were great (I spent a couple of decades adminning and customizing them.) What IBM did to them later was a sin. Software to build software without writing code was not what the tools were for... some marketers and guys in the C-suite must have had a psychotic break.