What to Know About the BIRD Stock IPO
However, yesterday the company announced it had raised its IPO price to $15 per share.
At nearly $30 per share at the time of writing, BIRD stock has certainly had quite the opening day.
The company sold more than 20 million shares at the $15 level, raising $303 million in aggregate proceeds.
Investors appear to like the tech-related exposure this retail stock has.
The company’s valuation at $15 per share was roughly 9-times sales based on the previous quarter.
This valuation has gotten a big boost today, with investors seemingly thinking the company undervalued itself.
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BangoLancer : The global green consumption trend is significant. It remains to be seen whether Allbirds, which is riding on the east wind of environmental protection, can reach the popularity of Lululemon and other brands.