Shares of Birkenstock (BIRK.N) dropped 6% on Thursday, deepening losses after the German luxury sandal seller stumbled the day before in its Wall Street debut.
A sign is illuminated at the entrance to a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/ File Photodropped 6% on Thursday, deepening losses after the German luxury sandal seller stumbled the day before in its Wall Street debut.set in its initial public offer, raising $1.48 billion. It had aimed to price the IPO for as much as $49 a share.
Some investors had hoped those marquee companies would spark a resurgence in public listings after volatile markets in the past two years dampened demand for IPOs. Arm on Thursday slumped 5.2% to $51.70, just above its $51 IPO price on Sept. 13, while Instacart was down 1.7% at $24.52, well below its $30 IPO price on Sept. 18.
With Thursday's loss, Birkenstock has a market capitalization of about $7 billion, or nearly $8 billion on a fully diluted basis. That is still nearly double the $4.35 billion at which L Catterton, the U.S.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Birkenstock Shares Fall 11.5% In Wall Street DebutThe German sandal-maker’s IPO priced at $46 a share Tuesday afternoon.
Baca lebih lajut »
Birkenstock stumbles on Wall Street as investors find sandal maker's shares too priceyBirkenstock shares have tumbled in their debut on the New York Stock Exchange as Wall...
Baca lebih lajut »
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
Baca lebih lajut »
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
Baca lebih lajut »
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day. The 249-year-old German maker of upmarket sandals set a price of $46 per share for its initial public offering of stock, valuing the company at $8.64 billion. It is due to start trading Wednesday on the New York Stock Exchange under the “BIRK” ticker symbol. The company’s footwear was first cobbled together by Johann Adam Birkenstock in Germany in 1774. The sandals have long been deri
Baca lebih lajut »
Birkenstock set for stock market debut as Wall Street trades in wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day
Baca lebih lajut »