Posted 10/16/2023, 5:00:00 AM
Birkenstock Shares Plummet 12.6% in $1B+ IPO's Worst Debut in 2 Years
- Birkenstock's shares fell 12.6% on its first day of trading, the worst debut for a $1+ billion IPO in 2 years
- Timing was bad due to market volatility, public holidays, and disappointing earnings from an investor
- Birkenstock priced at the bottom of the range but still looked expensive compared to peers
- Anchor investors did not provide stability as some can sell quickly
- Other IPOs like Rubrik and Turo are reconsidering their timelines due to the weak debut
