Here's Why Birkenstock Stock Dropped Nearly 16% Last Month

When valuations are high, even little things can lead to disappointment. Shares of shoe company Birkenstock (BIRK -1.83%) dropped 15.6% during August, according to data provided by S&P Global Market Intelligence. The stock was actually up close to 8% late in the month before shares plunged on Aug. 29. That was the day the company reported financial results for its fiscal third quarter of 2024. As you might have guessed, investors were let down after looking over the numbers. To be clear, it's not because Bi ...