Retail traders pile into Allbirds after odd AI pivot. History shows it won't end well
Cătălin Roșioru
Retail traders stampeded into Allbirds after the troubled shoemaker slapped an artificial intelligence label on its business, a set-up that market history suggests rarely ends well once the initial hype fades. Shares of the company skyrocketed as much as 582% on Wednesday after the firm detailed shocking plans to rebrand as NewBird AI and shift toward compute infrastructure. The surge added more than $100 million to its market value, which had been just $21 million a day earlier. Retail
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