Birkenstock shares have tumbled in their debut on the New York Stock Exchange as Wall...
NEW YORK — Birkenstock stumbled in its stock market debut Wednesday, a day Wall Street traded in its wingtips for sandals. Some traders on the floor of the New York Stock Exchange donned the iconic opened-toed footwear, and Birkenstock CEO Oliver Reichert rang the opening bell, with people around him waving sandals in the air. But the enthusiasm did not carry over to investors, who apparently viewed the asking price for a stake in the 249-year-old German company as too steep.
The sandals have long been derided as the antithesis of high fashion but have a cult following and this summer got a plug in the blockbuster movie “Barbie.
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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.
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