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Allbirds Inc. (NASDAQ:BIRD) shares fell 8.20% to $10.02 after the bell on Thursday, with the rally tapering down after surging nearly 700% on Wednesday.
The California-based company, which plans a “sneakers-to-servers” reset, closed the regular session at $10.91, down 35.79%, according to Benzinga Pro data.
Traders Pile In, But Technicals Flash Caution
Volume for Allbirds hit 30.81 million on Thursday, more than triple the 9.77 million average, reflecting heavy trading activity.
The Relative Strength Index (RSI) stood at 66.71, indicating strong bullish momentum while nearing the overbought threshold of 70.
Sneakers Out, Servers In
The massive gains on Wednesday came amid Allbirds’ announcement of an AI pivot backed by a $50 million convertible financing facility and a rebranding as “NewBird AI,” …
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