🔴 Allbirds is trading 5.1% down today as extreme volatility from its AI pivot unwinds

Allbirds is trading 5.1% down at $2.71 as extreme volatility following its AI rebrand and name-change announcement continues to unwind.

• The stock surged over 580% and then plunged about 30% after the company announced a pivot from sustainable footwear to AI infrastructure.
• The company plans to rebrand as NewBird AI, leaving traders cautious as initial momentum reverses.