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Allbirds announces pivot from shoes to AI, stock explodes 175%

cnbc.com

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Re: Allbirds announces pivot from shoes to AI, stock explodes 175%

#11

Post by mikeve »

This appears to be almost like a SPAC. Allbirds had already sold it's IP and other assets, now they raised new money and are continuing under a different name but they're still a publicly traded company.

So it's not really shoe retailer pivots to AI but a shoe retailer selling all assets and forming a new company but uses the previous public stock listing.

Re: Allbirds announces pivot from shoes to AI, stock explodes 175%

#19

Post by ProjectArcturis »

eudamoniac wrote: post #13

It's frustrating that Schwab does not allow me to buy puts for this symbol, and I haven't enabled margin for shorting because I always bought puts instead. Never seen a clearer short in my life.

It's not just Schwab, there aren't any options traded on BIRD. And shorting is not a guarantee. First you have to find a borrow, which if it's available probably costs >1000% annualized today. Then you have to be able to maintain that borrow, even if BIRD doubles from here.

Based on the price action today, this seems like a short squeeze.

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