The rise and fall of Allbirds: The sneaker company whose stock went from IPO darling to trading below $1

Allbirds announced disappointing earnings in November.Spencer Platt/Getty Images
Allbirds was founded in 2015 and soared to prominence with its iconic wool sneaker.
The company went public in November 2021. Shares rose 90% on the opening day of trading.
Sales have since slowed significantly. The company reported a 14.7% decline in revenue for 2023.
Allbirds' struggles continue to mount.The…