Shares in shoe brand Allbirds rise 580% after it pivots from footwear to AI

Article

• Allbirds shoe brand pivots to AI, stock surges 580% on the announcement
• Company had genuine brand equity in sustainable footwear with merino wool
• Pivot seen as pure name-change play with no disclosed AI product

Discussion

• Near-universal comparison to Long Island Blockchain and 2017 blockchain name-change pump
• Multiple commenters couldn’t tell if the BBC article was real or satire
• ‘Sounds like we’ve almost reached the peak of this bubble. Good riddance.’

Discuss on HN