The company is selling off its shoe brand as it plans to shift to providing technology infrastructure.

holy fuck, a shoe company… pivoting to AI? WHY

  • mostvexingparse@lemmy.worldEnglish
    47·
    6 days ago

    just like the softdrink company that changed their name to “long blockchain iced tea” a couple of years ago, their shares soared 300% before tanking completely

    gawd, i hope this bubble pops soon

    • osannaOPEnglish
      25·
      6 days ago

      Could not agree more. Fuck this AI shit. I hope it pops bigger than the dotcom boom.

  • vrek@programming.devEnglish
    2·
    6 days ago

    While stupid to pivot to Ai, the stock was only 3 dollars 2 days ago. The percentage increases are incredibly misleading, they were probably increased as a result of news stories of the company stock increasing 300% yesterday. Most stock brokers operate on if they think other people will want that stock later, not actual future value of the company or endorsement of any decisions of that company.