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AI pivot

Allbirds
2026-09-01 15:54:43

Allbirds rebrand to AI-focused Smartbird sparked an 800% surge, then a collapse back to pre-pivot levels

Allbirds, once known for its wool shoes and sustainability-driven branding, has become a case study in how an AI pivot can ignite a sharp but short-lived stock rally. According to Protos, the company rebranded as Smartbird a few months ago and recast itself as an artificial intelligence business, sending the stock above $20 overnight for a gain of more than 800%. That jump has since fully reversed, with the shares falling back to the same level they traded at before the rebrand. The report traces the company’s longer decline from a former consumer favorite to a struggling public listing. Allbirds was valued at $4 billion on its IPO day, but lost more than 85% of that value within two years. This year, it sold its footwear intellectual property and merchandise business to American Exchange Group for $39 million. Protos said the company’s latest quarterly filing also warned that it faces intense competition and may not be able to execute its proposed AI infrastructure business at all. After peaking at just over $24 on April 15, Smartbird has dropped 90% and now trades around $2.50.

1080
Allbirds rebrand to AI-focused Smartbird sparked an 800% surge, then a collapse back to pre-pivot levels