Birkenstock’s stock rises above IPO issue price for the first time

Birkenstock Holdings PLC’s stock BIRK reached its initial public offering issue price for the first time on Wednesday, about a month and a half after hitting markets. The stock has traded in a range of $45.15 to $46.24 so far in the session. surpassing its IPO issue price of $46. The iconic German sandal-maker went public on Oct. 11.  The IPO marked one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital, ending its first day of trade down 13%. Of 14 analysts rating the stock on FactSet, 10 rate it a buy while the remaining four have hold ratings.

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