Professor Glenn A. Okun
Birkenstock closed at $40.20 after pricing at $46 earlier today. This is a textbook example of a bad IPO. It has lost almost 13% of its value on its first day of trading.
This does not bode well for additional potential IPOs. When name brand companies struggle in the new issue market, the conditions are not suitable for a high volume of higher risk issuers to conduct their initial public offering.
The Rabid Capitalist 
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