https://www.cnbc.com/2026/04/15/allbirds-bird-stock-shoes-ai.html
Struggling shoe retailer Allbirds makes bizarre pivot from shoes to AI, stock explodes more than 400%
I had such a hard time coming up with an original joke for this, until i realized the reason why is that allbirds is stealing jokes from the dotcom bubble in the first place.
The company, valued around $4 billion at its peak, sold its intellectual property and other assets two weeks ago for $39 million. The stock surged over 400%, from under $3 a share up to $13. The shoe company had a market cap of about $21 million Tuesday.
Oh. so, bit of a misleading headline there CNBC. This wasn't a real publicly traded company, it was a company on life support that got pivoted by a greedy founder looking to cash in. Cynical move or the delusions of a true believer? does it matter?
Regardless, the stupidity is too much, the resemblance too striking. good luck to Allbirds in the totally normal footwear-to-high tech pivot that is happening in this totally normal economy.
