04

November, 2021

AllBirds Just Went Public…Is the Stock a Buy? ($BIRD)

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AllBirds Just Went Public...Is the Stock a Buy? ($BIRD)

Allbirds ($BIRD), a sustainable apparel manufacturer, went public yesterday, with a $15 share price valuing the company at ~$2.2B.
 
BIRD shares proceeded to rise by more than +80% in their first trading session…But, was this bullish price action warranted?
 
Likefolio data suggests a far more cautious outlook on this newly public company.
 
Underlying Consumer Demand for Allbirds’ eco-friendly footwear and clothing shows a multi-year decline, trending -13% YoY and -51% vs. 2019 on a 90-day moving average.
Allbirds disclosed a +27% YoY increase in sales for the first 6 months of 2021. However, the company’s reported a net loss of -$21.1M for the same period, an increase of +45% from the -$9.5M loss reported the prior year.

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