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

What a scam

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

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...

Clearly not a bubble, though!

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.

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

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