New low for Allbirds shares

Allbirds co-founder Tim Brown. (Image: NZME)

Thu, 09 Nov 2023

Allbirds shares dived to a new low of US$0.80 in post-market trading after it reported more red ink and another big contraction in revenue for its third quarter and forecast a challenging Christmas quarter.The firm, co-founded by ex-All Whites captain Tim Brown and made famous for its shoes made from NZ merino wool, is now far from the US$26.03 high it hit shortly after its November 2021 debut on the Nasdaq.The company revealed this morning it suffered a net loss of US$31 million (NZ$52.4m) in the three months to September 30. In the year-ago q...

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