No. of Recommendations: 1
From the Sherwood News …..
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“Flipping the BIRD”
“Before the latest pop, Allbirds had a miniscule market cap of some ~$22 million. Yesterday, some $3.8 billion changed hands in BIRD — with the company’s market cap ending the session at a still small $148 million.
That means that the company turned over more than 25x its market cap in trading volume. Indeed, there were no other stocks with a market cap less than $1 billion that traded more than $1 billion yesterday — something of an outlier, to say the least.
Allbirds trading volume
Sherwood News
Two of the stocks that Allbirds out-traded were none other than the world’s largest bank (JPMorgan) and America’s largest oil company (Exxon Mobil), which only turned over $3 billion and $2.3 billion, respectively. And those weren’t even particularly low-volume days for those two corporate giants — Allbirds’ insane activity was way ahead of the average of the last 120 days for each.”
ciao
