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.