Why StubHub Stock Tanked by 10% Today
It felt as if the ticket purveyor blew a great opportunity to profit handsomely from a major sporting event.
Overview
StubHub Holdings (NYSE: STUB) stock wasn't quite a golden ticket on Thursday. Investors sold out of the event ticketing company's equity rather aggressively after it released a dispiriting earnings report. The shares closed the day more than 10% down in price.
This, despite StubHub posting strong growth numbers in its second quarter. It took in revenue of just over $573 million in the period, for a 33% year-over-year increase. That was on the back of a 34% rise in gross merchandise sales (GMS) to $3.1 billion. Much of these gains, however, came from soccer's World Cup.
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Originally published at www.fool.com.
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