Topic: How To Invest

Q: Pat, I know you don’t like IPOs in general, but what do you think about Allbirds as a stock to buy? Thanks.

Article Excerpt

A: Allbirds Inc., $3.13, symbol BIRD on Nasdaq (Shares outstanding: 96.2 million; Market cap: $455.5 million;, is a global “lifestyle” brand that aims to make more sustainable footwear and apparel products without the use of synthetic petroleum-based fibres like polyester. The San Francisco-based company started up in May 2015. Allbirds is known for its ecologically friendly sneakers and has seen them grow in popularity over the last few years among tech industry workers, in particular. Currently, it sells through 35 stores, including locations in New York City, Shanghai and Berlin, as well as through its e-commerce platform. The company launched its IPO and began trading on Nasdaq at $15 a share on November 3, 2021. The stock touched a high of $32.44 on its first day of trading, but it has fallen well below the IPO price since then. In August 2019, Allbirds expanded into socks—its first venture beyond footwear. In October 2020, it launched a four-item clothing line, including a shirt…