Birkenstock Holding plc is a German shoe manufacturer known for its sandals and other shoes notable for contoured cork footbeds (soles) made with layers of suede and jute, which conform to the shape of their wearers' feet. On September 2023, Birkenstock filed for an initial public offering (IPO) in the United States stating that the company would be listed on the New York Stock Exchange under the stock ticker "BIRK". But it didn't go well - the German company’s debut is the worst first-day showing for a US listing of $1 billion or more in over two years, according to data compiled by Bloomberg. Out of more than 300 US IPOs of that size in the past century, only 13 have fared worse. Today Alec and Sascha chat about the less that stellar debut from the shoe brand, and ask, why? Want more Equity Mates? Click here.  In the spirit of reconciliation, Equity Mates Media and the hosts of The Dive acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.  ***** This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives.  Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional.  Equity Mates Media operates under Australian Financial Services Licence 540697. The Dive is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.