Birkenstock Shares Slump Below IPO Price on First Day of Trading, Highlighting Investor Caution Toward Recent IPO Valuations

Birkenstock shares fell over 12% below IPO price on first day of trading, marking weak investor demand.

IPO raised $1.48 billion but priced at midpoint of range, not top end, another sign of caution.

Performance shows valuations of recent IPOs not justified amid market downturn.

Birkenstock valued at over $8 billion after IPO, double what L Catterton paid last year.

Birkenstock family-run for generations until sold majority stake in 2021, retains partnership with luxury brands.