Arm and Instacart drop as Birkenstock debut looks set to stumble

Klaviyo

11/10/2023 17:00

** Shares of Arm Holdings  O9Ty.F   ARM.O  and Instacart
 CART.O  both falling on Weds ahead of what looks to be weak
stock market debut from sandle seller Birkenstock  BIRK.N 
    ** BIRK indicated to open between $40 and $42, per LSEG
data. IPO of ~32.3 mln shares priced late on Tues at $46, just
below midpoint of $44-$49 range, for ~$1.5 bln raise
    ** Arm last down 1.7% and Instacart, formally called
Maplebear, tumbling 4.4%
    ** Shares of Arm and Maplebear have stumbled since their
September IPOs, disappointing investors who had hoped they would
spark a resurgence of stock market listings
    ** Marketing automation firm Klaviyo  KVYO.N , which also
debuted in September, last up 0.6%
    ** Birkenstock's shares to start trading on NYSE with ticker
"BIRK"

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com;))