Why Birkenstock Flopped in Its IPO Today
It's not every day that a 249-year-old company goes public, but Birkenstock (NYSE: BIRK) did just that today. However, the stock immediately fell below its listing price once trading began.
As of 2:35 p.m. ET, the stock was down 11.4% from its $46 IPO price.
Image source: Getty Images.
Source Fool.com
