Remember the good old days, when you could triple the value of your company just by sticking a “dot-com” in your name? Well, happy days are here again!
Allbirds, the eco-friendly shoe brand that found its way onto the feet of tech CEOs and movie stars before falling on hard times, is pivoting to artificial intelligence.
On Wednesday, the San Francisco-based company said it had signed a definitive agreement with an unnamed institutional investor for US$50-million in financing to shift its business to AI infrastructure. It will also have a new name: NewBird AI. It plans to use the proceeds to purchase graphics processing units, known as GPUs. The transaction is expected to close during the second quarter of this year.
“The rise of AI development and adoption has created unprecedented structural demand for specialized, high-performance compute that the market is struggling to meet,” the company said in the release. “NewBird AI is being built to help close that gap.”
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Shares of Allbirds closed up 582 per cent at US$16.99. A few days ago, the stock was trading at US$3.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2428 % | 2,495.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2428 % | 4,731.7 |
| Floater | 5.80 % | 5.97 % | 26,377 | 13.96 | 4 | 0.2428 % | 2,726.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2603 % | 3,649.1 |
| SplitShare | 4.78 % | 4.53 % | 68,662 | 2.89 | 5 | -0.2603 % | 4,357.8 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2603 % | 3,400.2 |
| Perpetual-Premium | 5.87 % | -2.67 % | 62,289 | 0.08 | 1 | 0.3997 % | 3,016.1 |
| Perpetual-Discount | 5.71 % | 5.74 % | 49,682 | 14.27 | 34 | 0.3675 % | 3,319.5 |
| FixedReset Disc | 5.82 % | 5.98 % | 110,351 | 13.80 | 27 | 0.0975 % | 3,233.9 |
| Insurance Straight | 5.61 % | 5.70 % | 54,749 | 14.33 | 22 | 0.2704 % | 3,243.3 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0975 % | 3,847.1 |
| FixedReset Prem | 5.98 % | 4.49 % | 88,476 | 1.96 | 21 | 0.1028 % | 2,651.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0975 % | 3,305.7 |
| FixedReset Ins Non | 5.14 % | 5.28 % | 76,799 | 14.49 | 14 | 0.5762 % | 3,218.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| IFC.PR.I | Insurance Straight | -9.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.80 Evaluated at bid price : 22.06 Bid-YTW : 6.17 % |
| ENB.PR.P | FixedReset Disc | -2.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 22.31 Evaluated at bid price : 22.78 Bid-YTW : 6.28 % |
| IFC.PR.F | Insurance Straight | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 22.92 Evaluated at bid price : 23.17 Bid-YTW : 5.76 % |
| POW.PR.A | Perpetual-Discount | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 5.74 % |
| CU.PR.K | Perpetual-Discount | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 24.52 Evaluated at bid price : 24.91 Bid-YTW : 5.69 % |
| MFC.PR.C | Insurance Straight | 1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.19 Evaluated at bid price : 21.19 Bid-YTW : 5.37 % |
| PWF.PR.L | Perpetual-Discount | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 5.86 % |
| CCS.PR.C | Insurance Straight | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 22.60 Evaluated at bid price : 22.85 Bid-YTW : 5.51 % |
| GWO.PR.N | FixedReset Ins Non | 2.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 19.13 Evaluated at bid price : 19.13 Bid-YTW : 5.67 % |
| SLF.PR.G | FixedReset Ins Non | 2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 20.46 Evaluated at bid price : 20.46 Bid-YTW : 5.46 % |
| ENB.PR.A | Perpetual-Discount | 2.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 24.61 Evaluated at bid price : 24.87 Bid-YTW : 5.60 % |
| BN.PR.X | FixedReset Disc | 2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 20.45 Evaluated at bid price : 20.45 Bid-YTW : 6.00 % |
| MFC.PR.B | Insurance Straight | 5.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.81 Evaluated at bid price : 22.05 Bid-YTW : 5.32 % |
| IFC.PR.E | Insurance Straight | 5.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 23.24 Evaluated at bid price : 23.50 Bid-YTW : 5.57 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BN.PF.J | FixedReset Prem | 59,100 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.35 Bid-YTW : 5.56 % |
| CM.PR.S | FixedReset Prem | 56,155 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.56 Bid-YTW : 4.45 % |
| ENB.PR.Y | FixedReset Disc | 40,280 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.44 Evaluated at bid price : 21.78 Bid-YTW : 6.31 % |
| ENB.PF.C | FixedReset Disc | 26,225 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 22.26 Evaluated at bid price : 22.85 Bid-YTW : 6.26 % |
| PVS.PR.M | SplitShare | 23,360 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2031-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.42 Bid-YTW : 4.92 % |
| IFC.PR.I | Insurance Straight | 21,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-16 Maturity Price : 21.80 Evaluated at bid price : 22.06 Bid-YTW : 6.17 % |
| There were 9 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| IFC.PR.I | Insurance Straight | Quote: 22.06 – 24.75 Spot Rate : 2.6900 Average : 1.6543 YTW SCENARIO |
| MFC.PR.I | FixedReset Ins Non | Quote: 25.98 – 26.98 Spot Rate : 1.0000 Average : 0.6278 YTW SCENARIO |
| ENB.PR.P | FixedReset Disc | Quote: 22.78 – 23.64 Spot Rate : 0.8600 Average : 0.5406 YTW SCENARIO |
| POW.PR.D | Perpetual-Discount | Quote: 22.00 – 23.00 Spot Rate : 1.0000 Average : 0.7053 YTW SCENARIO |
| SLF.PR.H | FixedReset Ins Non | Quote: 23.94 – 24.94 Spot Rate : 1.0000 Average : 0.7445 YTW SCENARIO |
| BN.PF.J | FixedReset Prem | Quote: 25.35 – 25.90 Spot Rate : 0.5500 Average : 0.3828 YTW SCENARIO |