You can’t make this up: Allbird stock, BIRD, was down -99% from its record high as of yesterday as the shoe company was collapsing. Today, Allbirds stock is up as much as +875% after entirely rebranding as an AI company. This includes selling all of its brands and footwear assets and rebranding to “Newbird AI.” And, the company will use a $50M convertible financing facility to “acquire high-performance GPU assets.” Even shoe companies are moving into AI.(The Kobeissi Letter)