Allbirds stock price tumbles 13% to near a post-IPO low
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Shares of trendy shoemaker Allbirds (NASDAQ:BIRD) fell 13% to close at $13.57 on Wednesday, just shy of the stock's all-time low of $12.96 hit on Dec. 13.
BIRD has tumbled nearly 60% since its market debut in early November. Allbirds (BIRD) soared in its first trading session, rising as high as $32.44 from its $15-a-share IPO price.

However, the stock has since dropped back below its IPO level, falling especially significantly in early December after BIRD reported a wider-than-expected quarterly loss.
Highly speculative growth stocks such as Allbirds (BIRD), Shopify (NYSE:SHOP) and Tesla (NASDAQ:TSLA) have retreated in recent days amid rising interest rates, which appear to have chilled investor enthusiasm for risk.
For example, shares of fellow recent IPO Sweetgreen (NYSE:SG) also dropped Wednesday, falling 14% to close at $26.05. That took the popular salad-bowl chain near its all-time-low close of $24.82 hot on Dec. 3.
As for Allbirds (BIRD), the stock has been moving inversely to the 10-year U.S. Treasury bond yield in recent days, as this chart shows:



For a closer look at Allbirds' future, read Gary Alexander's bearish column here.