Shoe Company Goes Up 910% on AI Rebrand
910% in one day. $143 million added to market cap. Yesterday this company was worth $22 million and days from shutting down forever.
The market is completely broken.
BREAKING: A shoe company's stock is up 430% today after announcing it is ditching shoes and becoming an AI company. Allbirds, once valued at $4 billion sold its entire shoe business for $39 million and is rebranding as NewBird AI. They plan to buy GPUs and rent out computing power to AI developers who cannot get access through Amazon or Microsoft. This is a company that was days away from shutting down completely. One AI announcement changed everything. The AI compute shortage is so real that a dying shoe company just became an AI infrastructure play overnight and the market gave it a 430% gain in a single day.

Source
x.com