German shoe manufacturer Birkenstock officially debuted on the New York Stock Exchange on Wednesday, trading under the ticker “BIRK.”
However, while Birkenstock originally priced its initial public offering at $46 per share, traders seemingly did not agree with the shoemakers’ sentiment.
Birkenstock opened at $41 on Wednesday, 11% below its initial asking price.
By the end of trading Wednesday, Birkenstock shares had slid down to close 13% lower than its original price.
