Why StubHub Stock Tanked by 10% Today

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.

StubHub tanks 10% as World Cup ticket fiasco wipes out profit boom

StubHub shares tanked over 10% Thursday on its disastrous World Cup partnership, which erased its quarterly profit and left customers who bought tickets stranded outside stadiums – resulting in a frenzy of media coverage and litigation.

StubHub stocks tumble as lawsuits pile up over unissued FIFA World Cup tickets

StubHub made hundreds of millions of dollars last quarter, but it is having to give a lot of that money back after reselling FIFA World Cup tickets that had yet to be issued. Facing lawsuits, the company is now reporting a net loss, and watching its shares drop dramatically. “It certainly feels like schadenfreude,” Carmi Levy, a technology analyst, told Global News. “In a way they kind of got what they deserved and I’m sure there are a lot of pe…

StubHub shares plunge after World Cup ticket fiasco wipes out quarterly profit

StubHub's reliance on third-party systems highlights vulnerabilities, risking financial stability and investor confidence amid legal challenges. The post StubHub shares plunge after World Cup ticket fiasco wipes out quarterly profit appeared first on Crypto Briefing.