Why Bird Global Stock Soared Today
Portfolio Pulse from Ryan Gustafson
Bird Global, Inc. (NYSE:BRDS) has acquired micromobility operator Skinny Labs for $19 million, making Bird the largest micromobility operator in North America by market share. The acquisition is expected to have an immediate impact in the third quarter and contribute to Bird's long-term sustainable profitability.
September 19, 2023 | 9:54 pm
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NEUTRAL IMPACT
Bird Global's acquisition of Skinny Labs is expected to boost its market share and contribute to long-term profitability. However, the stock was down 5.59% in after-hours trading.
The acquisition of Skinny Labs is a significant move for Bird Global, potentially increasing its market share and profitability. However, the immediate market reaction was negative, with the stock price falling in after-hours trading. This suggests that investors may have concerns about the cost of the acquisition or other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100