StubHub Holdings (STUB) Crashes Over 25% After First Earnings as Public Company – What’s Really Going On?
StubHub shares dropped over 25% Friday after reporting a $1.3 billion GAAP net loss in its first earnings since going public, driven by a $1.4 billion stock-based compensation charge. Revenue rose 8% to $468 million, but management declined to give Q4 guidance. The stock touched a new low near $13. Wall Street cut price targets, with BofA downgrading to Neutral.