Birkenstock’s stock up 4.5% to put it on track for first gain since IPO last week

Birkenstock Holding PLC’s stock
BIRK,
+4.59%
rose 4.5% Monday, putting it on track for its first gain since it went public last week. The stock closed down 12.9% on its first day of trade to mark one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital. The stock is trading at $38, well below its issue price of $46.