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| By Jim Nelson |
At the height of buying manias, you often see wild stories about unrelated companies trying to jump on the bandwagon.
This time around is no different …
For context, you don’t have to travel too far into the past.
Take Long Island Iced Tea — the company, not the cripplingly-alcoholic cocktail.
In 2017, Bitcoin did this:
Everything related to cryptocurrencies or blockchain technology was on fire.
So, Long Island Iced Tea Company decided to get in on it.
The company rebranded itself as Long Blockchain Corp.
It turns out, ready-to-drink iced tea makers probably shouldn’t mess with major crypto-mining operations.
The company was delisted the following year.
Fast forward to last Wednesday. This headline lit the market on fire:
This might seem like a back-page kind of news story. But, if you’re like me and are not familiar with the brand, Allbirds used to sell sustainably made shoes.
Now, it decided to sell off its complete business, take on debt and launch a GPU-as-a-service AI business.
The market ate it up:
That is, until it didn’t.
The stock jumped as high as 876% on the day this 180-degree business overhaul was announced — to $24.31 a share.
As of yesterday, the wind seems to have left its sails. Shares traded at just $7.42 apiece.
Maybe we chalk this up to a small, one-time meme stock kind of event.
But if Nilus Mattive is right — and we are nearing an AI Apocalypse — this might be one of the four horsemen.
Of course, the Weiss stock ratings could have helped you avoid this particular rollercoaster.
It has rated Allbirds a “Sell” for years:
Here’s what the rest of your editors gleaned from the ratings this week.
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While the Mag 7 haven’t had their best year so far in 2026, Michael A. Robinson separates the wheat from the chaff to give you the one that is using AI the best.
Have a great weekend!
Jim Nelson
Managing Editor, Weiss Ratings Daily
