Allbirds just pivoted their business away from shoes and the stock has exploded after the announcement. But, no one could have guessed how they managed to achieve that.
The shoe retailer announced that they’re switching to AI, and the Internet is largely confused by the revelation. According to CNBC the company is valued around $4 billion. However they went ahead and sold their intellectual property and other assets about two weeks ago for $39 million. That would be a signal of a flailing company. And it still might! But, that stock number made everybody stop and take notice.
