Birkenstocks' stock dropped 6% on its second day of trading on Wall Street, deepening losses after falling over 12% in its first session. The 250-year-old German shoemaker had aimed to price its initial public offering at $49 per share but ended up pricing at $46 per share, already lower than hoped. On its second day of trading, Birkenstock shares fell to around $37.79, representing an overall decline of around 18% from the IPO price. At its current market value of around $7 billion, Birkenstock is still worth nearly double the $4.35 billion paid by private equity firm L Catterton to acquire a majority stake last year.