2023-10-11 17:42:38
The health shoe company Birkenstock was caught on the wrong foot in its stock market debut on Wall Street. The first price was recorded following four hours at $41, eleven percent below the issue price of $46. The traditional company from Linz am Rhein and its bankers apparently cautiously set the price in the middle of the range in order to avoid disappointment. Four hours earlier, CEO Oliver Reichert had waved in a good mood from the gallery into the trading floor of the New York Stock Exchange. Bystanders enthusiastically waved the iconic sandals of the traditional company, whose roots go back to a shoemaker’s shop founded in 1774 in Langen-Bergheim, Hesse.
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