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.

Pets announces pivot from Pets to Pets.com, stock explodes 1000%

Someone tell me if my idea is dumb:

You know how adding ".ai" to your company name / domain name increases your valuation an order of magnitude or whatever?

Well has anyone tried chaining .ai's to their company name...???

For example could x.ai increase their valuation another 5-10x by renaming themselves x.ai.ai?

What about perplexity.ai.ai.ai?

Seems like a low-hanging fruit for increasing valuation / attention on your company, but let me know if I'm missing something.

Thing Ai^Ai. It might break the market.

We'd probably hit some kind of SEC filing requirement long before the market broke. Seen weirder things get flagged by compliance.

ai.ai is still free!

ai.ai resolves through Anguilla's nameservers. Call me when that's down at 3am.

We actually tried buying a stacked domain like that once. ICANN rules cap labels at 63 chars each but nothing stops chaining — registrars just... let you.

Reminds me of https://en.wikipedia.org/wiki/Long_Blockchain_Corp.

That didn't end very well for them...

Or "Linux Gold Corp".

https://finance.yahoo.com/quote/LNXGF/

These moves never do.

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.

It's not just Schwab, there aren't any options traded on BIRD. And shorting is not a guarantee. First you have to find a borrow, which if it's available probably costs >1000% annualized today. Then you have to be able to maintain that borrow, even if BIRD doubles from here.

Based on the price action today, this seems like a short squeeze.

Just use the new way which is starting a market on polymarket

More discussion on announcement:

https://news.ycombinator.com/item?id=47778038

There was a highly anomalous spike in volume around April 1st in the stock: https://marketchameleon.com/Overview/BIRD/Summary/

Oddly enough it barely moved the price at the time. I think it’s fair to say that this is a highly suspicious sequence of events.

They keep having to update the headline as the stock goes up, it's now at "more than 300%".

Now 400%!

Seems weird the new name is singular ("Newbird AI") when the old name is plural. Wonder how they chose that. I can't imagine "Newbirds AI" was taken!

You have already thought longer about the name than they have

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.

So not long any more for this bubble as well ? ;-)

The historical parallel holds, though the NFT cycle compressed faster — maybe 18 months peak to trough. Evidence suggests AI's longer given actual enterprise adoption.

What a scam

I smell a shareholders' class action lawsuit. Wait for it.

Ah, yes, the Zapata Petroleum -> zap.com phase of the bubble.

Clearly not a bubble, though!

I tried suggesting this on a different forum and wow, did I get slapped down.

700%*

Peak AI (bubble)

Worked at a shoe brand during the DTC bust -- nobody pivoted to AI with actual product. This feels like Long Blockchain without even the blockchain part.