alt Hacker NewsAllbirds announces pivot from shoes to AI, stock explodes 175%
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More discussion on announcement:
Reminds me of https://en.wikipedia.org/wiki/Long_Blockchain_Corp.
That didn't end very well for them...
They keep having to update the headline as the stock goes up, it's now at "more than 300%".
700%*
What a scam
Pets announces pivot from Pets to Pets.com, stock explodes 1000%
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.
Ah, so we have reached the "Pivot to NFTs, stock jumps" phase of the ""Pivot to AI" bubble.
https://www.forbes.com/sites/justinbirnbaum/2022/02/18/how-a...
https://www.fastcompany.com/90711340/whats-happening-with-ga...
edit and of course https://news.ycombinator.com/item?id=47780223 https://en.wikipedia.org/wiki/Long_Blockchain_Corp.
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.