Why Allbirds Stock Was Plunging Today
Shares of Allbirds (NASDAQ: BIRD), which calls itself the maker of the world's most comfortable shoe, were taking a dive today after the company issued disappointing guidance in its second-quarter earnings report.
As of 12:18 p.m. ET, the stock was down 22.8%.
Allbirds, known for its merino wool-based sneaker, said revenue in the quarter rose 15% to $78.2 million, ahead of estimates at $77.8 million. Growth was stronger in the U.S., up 21% to $59.3 million, and sales at its own brick-and-mortar stores more than doubled, rising 120%.
Source Fool.com
