Bird changes course, drops vehicle sales in pursuit of profitability

Bird presented its first quarter 2022 earnings on Monday after the bell.
Revenue has decreased consistently since the company went public via a special purpose acquisition merger in November last year. As a result, Bird is looking at streamlining resources so it can achieve profitability this year. Bird’s initiatives involve focusing on its most profitable markets, potentially pulling out of less profitable markets and slowing the expansion of vehicle sales, like the e-bike the company launched last summer or the retail scooters launched in December.
Bird shares fell 7.4% Monday, but the

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