StubHub Stock Ends First Trading Session Below IPO Price
Key Takeaways
- StubHub shares ended their first trading session at $22.17, slightly below the $23.50 they sold for in the company’s initial public offering.
- The online ticket sales platform raised about $800 million, which CEO Eric Baker said would be used to pay down debt.
- StubHub’s deal was the latest to land in a busy IPO market, with recent listings including share sales by BNPL firm Klarna and Gemini, the crypto exchange owned by the Winklevoss twins.
StubHub shares finished their first trading session Wednesday below their IPO price.
The ticket trading platform announced Tuesday the sale of 34 million shares at $23.50 apiece in its initial public offering. Shares began trading today under the ticker “KLAR” at $25.35, climbing…
