End of the IPO Nightmare? Ticket Resale Platform Stock Surges 5%

StubHub Holdings Inc. (NYSE: STUB) saw its share price rise 5.31% from $15.98, lifting its market capitalization to about $5.1 billion—effectively recouping some $287 million in value in a single day. That equates to roughly KRW 6.6 trillion, with around 1.74 million shares changing hands as the stock attempted a rebound from recent weakness.

Since its September 2025 IPO at $23.50, StubHub’s stock has underperformed. After releasing third-quarter results, the company’s free cash flow turned negative and it recorded a net loss approaching $1.3 billion—sending the share price briefly into the $14 range and reflecting a quarterly loss of about KRW 1.7 trillion. Adding to its challenges, a securities class-action lawsuit was filed in the U.S. District Court for the Southern District of New York, alleging that StubHub’s IPO prospectus failed to disclose material risks to investors, thereby increasing legal exposure over IPO-related investor losses.

Founded in 2000, StubHub operates a global secondary marketplace for sports, concert and event tickets. When it debuted on the New York Stock Exchange in September 2025, the company raised approximately $800 million (about KRW 1 trillion). At that time, its enterprise value was estimated at roughly $8.8 billion (around KRW 11 trillion). However, high debt levels, regulatory uncertainties, customer complaints and criticism of its fee structure have branded StubHub as a volatile, “controversial” ticket stock since listing.