Why Birkenstock Stock Got Knocked Down Today

Even after 250 years in business, this company is still setting records. Shares of shoe company Birkenstock (BIRK -16.84%) got knocked down on Thursday after the company reported financial results for its fiscal third quarter of 2024. Most headlines say that the company missed estimates from analysts, but I think this is a weak explanation for what's happening today, as I'll explain. Regardless of the reason why, Birkenstock stock was still down a hefty 16% as of 1 p.m. ET. Birkenstock is right on schedule ...