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lagniappe 8 hours ago [-]
Reminds me of Long Island Blockchain
pipes 5 hours ago [-]
Exactly what I tought
shantocv 13 hours ago [-]
This feels like the 2026 version of companies adding "blockchain" to their name in 2017 and watching
the stock jump. The shoe business was real — they had a genuinely differentiated product with the
merino wool. Pivoting from a physical product with brand recognition to "AI" when you have no
obvious AI expertise or data moat is a tough sell beyond the initial hype pop.
flextheruler 8 hours ago [-]
It honestly seems worse.
heywire 1 hours ago [-]
This new season of HBO’s Silicon Valley is wild!
ChicagoBoy11 8 hours ago [-]
Am I the only one who couldn't tell whether this was real or not for a good long while? I legitimately wondered whether the BBC site might have been hacked. I just simply cannot find a way to make sense of just about anything in the news story; I had just assumed it would go under and that's that. Why would someone who has that kind of money to invest put it into this pivot as opposed to a completely fresh, new effort? What's the efficiency I'm not seeing?
gehwartzen 3 hours ago [-]
The market in general has gone completely off the rails
crazygringo 6 hours ago [-]
Me too. It had me genuinely wondering if the Brits have their own version of April Fools in the middle of the month.
Forget the AI -- I'm just as shocked to see that shares went from $500+ in 2021 to below $3 this year. That's insane. I had to verify it's actually real.
I thought this was just a normal shoe company that had invented a cool look with some good branding.
quickthrowman 1 hours ago [-]
> I'm just as shocked to see that shares went from $500+ in 2021 to below $3 this year. That's insane. I had to verify it's actually real.
Well, sort of. They did a 20 for 1 reverse split in 2024, and possibly that wasn’t the only reverse split. That means the stock peaked at $25 (pre reverse split) and dipped below $0.25 (if the reverse split didn’t happen) so they did a reverse split to stay listed on the NYSE, as you need $1/share minimum price or something like that.
Number of shares and share price are completely arbitrary, FWIW.
extraduder_ire 1 hours ago [-]
Don't most stock charting websites backdate splits to show the price as it would be with current stock?
zardo 6 hours ago [-]
It's already listed, so they can get retail gamblers to buy in on day one.
vrganj 8 hours ago [-]
There's no efficiency. Markets are a casino where people with no domain knowledge and automated systems make bets.
If people stop betting on your thing, it behooves you to rebrand it into whatever the magic beans of the moment are.
7 hours ago [-]
ninju 7 hours ago [-]
They should go ahead and drop one the L's from their name and become ALBirds and further embrace the lunacy :-)
Terr_ 3 hours ago [-]
Then also make the second letter lowercase, to further bait the irrationally exuberant depending on font: "AlBird" versus "AIBird".
Forget the AI -- I'm just as shocked to see that shares went from $500+ in 2021 to below $3 this year. That's insane. I had to verify it's actually real.
I thought this was just a normal shoe company that had invented a cool look with some good branding.
Well, sort of. They did a 20 for 1 reverse split in 2024, and possibly that wasn’t the only reverse split. That means the stock peaked at $25 (pre reverse split) and dipped below $0.25 (if the reverse split didn’t happen) so they did a reverse split to stay listed on the NYSE, as you need $1/share minimum price or something like that.
Number of shares and share price are completely arbitrary, FWIW.
If people stop betting on your thing, it behooves you to rebrand it into whatever the magic beans of the moment are.
Discussions:
https://news.ycombinator.com/item?id=47778038
https://news.ycombinator.com/item?id=47778762
Good riddance.