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A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9% over 2022, according to market research firm Euromonitor International. AllBirds (BIRD.O), Dr Martens (DOCS.L), and On Running (ONON.N) have all seen their market value fall since their IPOs in 2021. "When you look at the trend of other shoe companies that have IPO-ed, it doesn't give a great outlook for Birkenstock," Valechha said.

Persons: Fabrizio Bensch, Birkenstock, Kellogg, Mamta, Cheviot, Valechha, Johann Adam Birkenstock, Barbie, Margot Robbie, Jessica Ramirez, Jane Hali, Siobhan Gehin, Roland Berger, Thomas Hayes, sneaker, Dr Martens, Allbirds, Alexandre Arnault, LVMH, Bernard Arnault, Matt Oguz, Iris, L, Ananya Mariam Rajesh, Helen Reid, Emma, Victoria Farr, Echo Wang, Abigail Summerville, Deepa Babington Organizations: REUTERS, LVMH, New York Stock Exchange, Euromonitor, Associates, Dick's Sporting, Reuters, Partners, Norges Bank Investment Management, Thomson Locations: Berlin, Germany, New York, London, Neustadt, United States, U.S, Cannes, Silicon Valley

☆ Arm is trading at a premium to Nvidia after IPO pop even though it's a 'no-growth company'
▼ + stars: | 2023-09-14 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Arm's Nasdaq debut on Thursday looks good for SoftBank, which just spun the company out after acquiring it in 2016. The UK-based chip design company saw its stock jump 25% to $63.59 after its IPO, lifting the company's fully diluted market cap to almost $68 billion. For now, there's not a big open market for Arm's stock. Of the $4.9 billion worth of shares SoftBank sold, $735 million were purchased by a group of strategic investors including Apple , Google , Nvidia, Samsung and Intel .

Persons: Rene Haas, Jay Ritter, there's, SoftBank, Masayoshi Son, We've, CNBC's David Faber, Matt Oguz, it's, —, Oguz, Kif Leswing, SoftBank's Masayoshi, Arm's Rene Haas Organizations: Nasdaq, Wall, Nvidia, Semiconductor, U.S, University of Florida, Apple, Google, Samsung, Intel, Venture Science, AMD Locations: New York, U.S

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