Allbirds Inc. (BIRD) is a San Francisco-based eco-friendly apparel company that operates both in the U.S. and New Zealand.
And the company’s share value recently surged following its public debut on the Nasdaq.
Allbirds, which is known for its eco-friendly clothing and shoes, opened at $21.21 on its first day of trading after pricing 19.2 million shares at about $12 to $14 each. By the market’s close, shares had risen by 91% to $28.64.
What helped the company garner this level of attention is the fact that it focuses on developing sustainable products in an era where renewable energy and environmentally-friendly trends are at the forefront of political discussions and company investments.
And while some had initially seen the popularity of sustainable products as a short-term movement, it’s becoming increasingly clear that they won’t simply be a flash in the pan.
Because of this, many investors jumped in at the company’s initial public offering to benefit from Allbirds’ expected growth – offering a positive sign for the company’s future and making it an interesting stock to watch for prospective investors.
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