Birkenstock's stock closes a whisker below its IPO issue price for the first time
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Birkenstock Holding PLC's stock (BIRK) is edging close to its initial public offering price after closing Tuesday at $45.38, just below the IPO issue price of $46. The iconic German sandal-maker's stock has not yet traded at that level after it went public on Oct. 11. The IPO marked one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital. Of 14 analysts rating the stock on FactSet, 10 rate it a buy while the remaining four have hold ratings.
-Ciara Linnane
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11-29-23 0651ET
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