Why Allbirds Stock Dropped 18% in January
Shares of footwear company Allbirds (NASDAQ: BIRD) fell 18% in January, according to data from S&P Global Market Intelligence. The brand, focused on sustainability and comfort, is growing rapidly, but investors haven't been impressed with it enough to give it a boost. Its relatively new stock floundered on its earnings report at the end of November, and negative investors sentiment carried the stock lower as the market remained volatile in January.
Allbirds only joined the market in early November, so it's still fresh out of the oven. The third-quarter report at the end of the month marked its first as a public company, and it demonstrated a small, growing, unprofitable company. Unfortunately, the market isn't so hot on small, unprofitable growth stocks these days.
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Source Fool.com
