Myseum, Inc. (NASDAQ:MYSE) is the latest micro-cap to slap “AI” onto its name and watch the stock explode.
- MYSE stock is up on heavy volume. See the chart and price action here.
Shares surged more than 200% in Thursday’s early trading after the company announced it is rebranding as Myseum.AI — a move that bears striking resemblance to Allbirds‘ (NASDAQ:BIRD) sneaker-to-AI pivot just one day earlier.
The rebrand, effective April 15, involves what the company calls a strategic shift toward “privacy-first AI agents” that will be integrated across its social media and messaging apps, including its DatChat encrypted messaging platform and Picture Party photo-sharing app.
CEO Darin Myman framed the change as a natural extension of the company’s existing tech stack, stating the new name “identifies our core AI-based technology that secures our multi-tiered social media ecosystem.”
The math behind the move tells a familiar story. MYSE has a public float of roughly four million shares, a market cap barely above $6 million, and negative operating cash flow of $4.5 million over the trailing 12 months.
The stock had been down 16% year-to-date and 40% over the past year before Thursday’s surge, according to Benzinga Pro data.
In other words, a sub-micro-cap company with minimal revenue and a tiny float added “AI” to its corporate name and immediately doubled in value on heavy volume.
Allbirds’ Playbook
The MYSE comparison to BIRD is almost too clean.
Allbirds announced Wednesday it would rebrand as “NewBird AI,” pivoting from sneakers to GPU-as-a-Service and AI cloud infrastructure.
The stock soared as much as 876% intraday and closed up 582% at $16.99.
But the follow-through tells a cautionary tale: BIRD was trading around $12.82 Thursday morning, down roughly 25% from Wednesday’s close, as the initial euphoria faded.
The initial pop often attracts momentum chasers and short-squeeze volume on a thin float, but once the novelty wears off, traders are left holding shares of a business model that amounts to a press release and a name change.
MYSE was last trading around $1.44 on Wednesday before the after-hours spike. Traders chasing the Thursday move would be wise to watch what happened to BIRD as a real-time preview of how these plays can resolve.
MYSE Price Action: According to Benzinga Pro, Myseum shares were up 110.42%, trading at $3.03 at the time of publication Thursday.
The stock was bouncing around with a high of $5.76 and a low of $3.41 Thursday, with trading volume of a whopping 153.9 million shares.
Photo: Vladeep / Shutterstock
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