Bryan Wilmot: Stake Chief Marketing Officer on Birkenstocks' debut on the New York stock exchange

German sandal company Birkenstock experienced a disappointing debut after landing on the New York Stock exchange. The brand experienced a meteoric rise in popularity over the past decade, selling over 30 million pairs in 2022 alone. Birkenstock priced its initial public offering at $46 a share- but the share prices quickly fell 12.6 percent and closed at $40.20. Stake Chief Marketing Officer Bryan Wilmot says many IPOs have attempted to enter the market within the last two years- and the economy turned quickly. "The market was booming, we saw people taking advantage of that. Then interest rates started to rise, uncertainty and volatility turned the market- the IPO market has completely dried up." LISTEN ABOVE  See omnystudio.com/listener for privacy information.