IPO

The maker of sensible sandals has been around for 250 years. So why did it go public now?

Birkenstock shares started trading on the New York Stock Exchange on Wednesday, pricing its IPO at $46 per share.

And that’s before the shares even get to the P in the acronym: the public. First there’s the “roadshow,” later, hopefully, the “pop.”

The supportively soled shoe brand is the latest company to file to sell stock to the public after a long IPO drought. The move indicates a stable, confident market.

The chip design company Arm is going public later this year, in the biggest IPO since 2021. If investors are interested, other companies could start going public, too.

The IPO window is closed, the pros say, amid high interest rates and recession fears. But it will be back, they add.

Investors seem less welcoming to IPOs than in 2021.

WeWork is merging with a special purpose acquisition company, hitting the stock market in a way that might be less costly and less risky.

Remote workers might be looking for an escape, and companies are ready to experiment.

Lots of people are turning to their stuff to make money during the pandemic.