00:00:00
And Albert's the once hyped sneaker
00:00:01
brand,
00:00:02
>> uncomfortable sneaker business. But go
00:00:04
ahead.
00:00:04
>> They just sold its IP for 39 million 2
00:00:07
weeks ago, down from a $4 billion peak
00:00:09
valuation, is rebranding as Newbird AI
00:00:12
and pivoting to leasing AI chips, GPUs.
00:00:15
The company secured 50 million in
00:00:17
financing to buy GPUs and lease them to
00:00:19
customers and share spike nearly 900% at
00:00:23
intraday highs on the announcement. So
00:00:24
what is this going to do? We've seen
00:00:26
this movie before and it doesn't end
00:00:28
well. How does it end?
00:00:29
>> These companies have short-term pops.
00:00:31
The insiders who get the shares before
00:00:33
they announce it, dump the bag, and then
00:00:35
the people who think this is anything
00:00:37
resembling an a company with enterprise
00:00:39
value end up losing a ton of money.
00:00:41
When you're just trying to create the
00:00:44
illusion you're in a hot area with
00:00:45
absolutely no domain, expertise, IP, or
00:00:48
advantage, sure, call it AI a pop. If
00:00:51
you're in Alberts right now, just take
00:00:53
it from me. Sell