Why Allbirds Stock Was Plunging Today

·2 min read

Shares of Allbirds (NASDAQ: BIRD), which calls itself the maker of the world's most comfortable shoe, were taking a dive today after the company issued disappointing guidance in its second-quarter earnings report. Allbirds, known for its merino wool-based sneaker, said revenue in the quarter rose 15% to $78.2 million, ahead of estimates at $77.8 million.