StubHub’s $2.2 Billion Spiral Is Worst Start From IPO Since 2007
StubHub signage during the company's IPO at the New York Stock Exchange on Sept. 17.
Photographer: Michael Nagle/BloombergThe list of companies to tumble after a sizable US initial public offering has a new headline member: StubHub Holdings Inc.
The ticketing platform has wiped out more than $2.2 billion in market value since it sold shares to new investors last week, with IPO buyers who have held on now sitting on a roughly 25% loss. That marks the worst starting week, through Wednesday’s close, for a company that raised more than $500 million in a US IPO since Sculptor Capital Management Inc. fell flat after going public in late 2007, data compiled by Bloomberg show.