The rise and fall of Allbirds: The sneaker company whose stock went from IPO darling to trading below $1

Original Article:

Source: Link

Allbirds was founded in 2015 and soared to prominence with its iconic wool sneaker. The company went public in November 2021. Shares rose 90% on the opening day of trading. Sales have since slowed significantly. The company reported a 14.7% decline in revenue for 2023. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Allbirds' struggles continue to mount. The shoemaker reported another quarter of disappointing earnings in March, wrapping up a dismal fiscal year that saw a net loss of $152.5 million. Then, in April, the company received notice that its stock is at risk of delisting from the Nasdaq exchange for trading below $1 for 30 consecutive days. Here's a history of Allbirds and how it went from a buzzy sustainable footwear brand worn by tech bros and VCs to a company on the brink.