![]() Just like beauty is in the eye of the beholder, how much publicly traded companies are worth is ultimately a function of how much traders think they’re worth.Īnd yes, it’s pretty wacky when traders rushed to buy a stock like Bed Bath and Beyond when it was hanging by a thread.īut that’s a story for another time… (Spoiler alert: It didn’t last very long.)īefore trading began on Wednesday, Birkenstock essentially said it thinks it is an $8.6 billion company.īut then regular people got in on the action - and said, “I don’t think so.” OK but is Birkenstock really worth $8.6 billion?! ![]() ![]() Then, decades after their peaks, they made miraculous comebacks. Both shoe brands experienced a surge of popularity but lost their luster and were demoted to fads. Shares slid even further, closing down by almost 13%.Īs Nightcap recently wrote, Birkenstocks are having something along the lines of a Crocs moment. However, it opened 11% below the IPO price, at $41 a share. But it was tough first day for the beloved cork-soled shoemaker.īirkenstock priced its initial public offering at $46 a share - in the middle of the price range it indicated last week - which gave it an $8.6 billion valuation. ![]() It’s official: Birkenstock is a publicly traded company after debuting on the New York Stock Exchange Wednesday under the ticker symbol BIRK. ![]()
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