Market Flash: Birkenstock’s Troubles Mount as Short Demand Climbs
EquiLend data shows rising borrow demand in Birkenstock (BIRK), with utilization near capacity as short sellers build exposure to the luxury-footwear name
EquiLend Borrow Quantity for Birkenstock (BIRK) reached 33.8 million shares as of June 3, driving utilization as high as 98% and marking a nearly 200% rise in shares on loan year to date.
EquiLend Broker-to-Broker Borrow Quantity has also climbed sharply, adding approximately 10 million shares after rising 530% since the start of May. In parallel, EquiLend Cost to Borrow rose from about 120 bps in mid-May to a peak of over 2,200 bps at the start of June. The rise in borrow demand comes as Birkenstock faces continued investor scrutiny. Earnings pressure tied to tariff headwinds and softer demand drove shares to a record low of $31.19 on May 15, down roughly 45% year-over-year.
By Q1 2026, L Catterton, Birkenstock’s controlling private equity firm, had trimmed its stake by 13.4% via a 15.3 million share sale. A $250 million accelerated share repurchase on May 21 briefly sparked a 19% rally, but borrow demand continued to climb.
With Birkenstock walking into intense investor scrutiny, subscribe to EquiLend’s real-time data to track every shift in short interest and see how short sellers are positioning.
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