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Emmet

๐Ÿ‘ค Speaker
1108 total appearances

Appearances Over Time

Podcast Appearances

Stock Club
#308: The Best and Worst Business Pivots

David Gardner, absolutely no question or doubt.

Stock Club
#308: The Best and Worst Business Pivots

And even Chris Mayer, 100 baggers.

Stock Club
#308: The Best and Worst Business Pivots

So there's so many.

Stock Club
#308: The Best and Worst Business Pivots

But anyway, look, we're on 308.

Stock Club
#308: The Best and Worst Business Pivots

Let's make it a good one, Mike.

Stock Club
#308: The Best and Worst Business Pivots

This is true.

Stock Club
#308: The Best and Worst Business Pivots

Well, Allbirds, which our listeners have heard me mention over the years, and I'm sure many of our listeners have observed, make sneakers or runners, as we call them in Ireland, and leisure footwear.

Stock Club
#308: The Best and Worst Business Pivots

Um, they made a surprising, well, actually a shocking announcement on Wednesday of last week saying that it was pivoting.

Stock Club
#308: The Best and Worst Business Pivots

Okay.

Stock Club
#308: The Best and Worst Business Pivots

From shoes to artificial intelligence.

Stock Club
#308: The Best and Worst Business Pivots

And I am not kidding if you didn't see the news.

Stock Club
#308: The Best and Worst Business Pivots

So the company.

Stock Club
#308: The Best and Worst Business Pivots

which according to the release will be called Newbird AI, announced a deal to raise $50 million in funding, which is expected to close very soon.

Stock Club
#308: The Best and Worst Business Pivots

And I quote from the PR release, the company will initially seek to acquire high-performance,

Stock Club
#308: The Best and Worst Business Pivots

low latency AI compute hardware and provide access under long-term lease agreements meeting customer demand that spot markets and hyperscalers are unable to reliably service the company said in the announcement and the move

Stock Club
#308: The Best and Worst Business Pivots

as you and I swap text messages or slack or whatever it was, it literally the shares exploded.

Stock Club
#308: The Best and Worst Business Pivots

They went from a minuscule market cap like they closed just for people's reference.

Stock Club
#308: The Best and Worst Business Pivots

It closed with a market cap of $21 million on Tuesday, which roughly speaking is the total amount of money you'd need

Stock Club
#308: The Best and Worst Business Pivots

to cough up to buy the entire company.

Stock Club
#308: The Best and Worst Business Pivots

Although other dynamics would come to play if you did such thing, but the business was valued at 21 million.