StubHub’s stock plummeted over 28% on Friday after the company reported a staggering $1.3 billion net loss for the quarter, despite an 8% year-over-year revenue increase to $468.1 million.
This significant loss was mainly due to a one-off stock-based compensation charge of $1.4 billion linked to the company’s recent IPO. CEO Eric Baker’s decision not to provide financial guidance for the upcoming quarter added to investor worries.
Since its IPO in September, StubHub’s stock has consistently traded below its initial offering price of $23.50 per share, raising concerns among analysts about its profitability and sustainability in the competitive ticketing market.
In terms of stock market performance, StubHub Holdings Inc. (STUB) is currently priced at $14.87, reflecting a decrease of $3.95 (-0.21%) from the previous close.
The latest open price was $13.36, with an intraday volume of approximately 17.4 million shares. Throughout the day, the stock hit an intraday high of $15.54 and an intraday low of $13.01.
The latest trade occurred on Friday, November 14, at 16:55:59 PST. Given these developments, investor sentiment remains anxious as concerns surrounding StubHub’s financial health and competitive standing continue to grow.
I think StubHub should pivot to a subscription model for ticket sales.
This is just a temporary setback, StubHub will bounce back stronger! #HODL 🚀
Maybe its time for StubHub to pivot to selling artisanal pickles instead 🥒🤔
I think StubHub should pivot to selling artisanal pickles instead. Just saying. 🥒
I think StubHub should start selling pet supplies instead of event tickets.