Bloomberg: StubHub's IPO Plunge Worst Since 2007

Following its recent IPO, StubHub Holdings Inc. is experiencing a historically weak market debut. Bloomberg.com reports a significant decline in the ticketing platform's stock price, resulting in a substantial loss of market value. Data indicates this is among the poorest performances for an IPO of its size in over a decade. Since its IPO last week, StubHub's market valuation has decreased by over $2.2 billion. Investors who purchased shares during the IPO have seen their investments decline by approximately 25% as of Wednesday's market close, highlighting the challenging start. According to Bloomberg, StubHub's post-IPO performance is the worst for a U.S. company raising over $500 million since late 2007. Sculptor Capital Management Inc. was the last company to experience a similar downturn after its public offering. This performance positions StubHub as a notable example of a company facing immediate challenges post-IPO and marks a significant event in recent market history. The company now leads the list of major post-IPO underperformers.