社区

There’s been a ton of exciting IPO news recently, but Allbirds had its successful market debut as $Allbirds, Inc.(BIRD)$  stock skyrocketed above 90%.

Allbirds is a sneaker brand, currently valued at about $4 billion after its successful first day of trading. The company raised $300 million from the offering alone as shares opened at $21.21/share and closed at $28.64, which up 91%.

Allbirds is famous for its eco-friendly shoes and attention to sustainability. The company’s Co-Founder and Co-CEO Joey Zwillinger shared“I think why the demand was so great … investors were really attracted by the opportunity to put their capital against great opportunity to create outcomes that were better for the planet.”

With all its newly-raised capital, Allbirds hopes to boost business by expanding product lines and opening additional brick-and-mortar stores. Although the company has yet to make a profit, Allbirds executives are confident that the public listing will remedy its profitability in the near future.

As a graduate student of sustainability studies, I have to say this concept of Allbirds is soooo good. There are tons of companies promoting their products in this way, actually, they do nothing. As an investor, I need to confirm whether Allbirds has huge potential to generate revenue.