Eventbrite Stock Has a Rough Rookie Year
Friday is the one-year anniversary of Eventbrite's (NYSE: EB) IPO, and like many of the events that the online ticketing specialist helps book, there have been highs and lows. Eventbrite went public at $23 on Sept. 20, 2018, and here we are -- a year later -- with the stock blowing out the birthday candle priced in the high teens.
Investing in IPOs is risky, but this has been a round trip to worse than nowhere. Eventbrite is a broken IPO, having shed more than half of its value since peaking north of $40 just days after its Wall Street debut. There's been a little bit of everything in the stock's fadeout. Decelerating revenue growth, a financial hit following the cancellation of a music festival, and larger than expected losses in three of its first four quarters as a public company have kept the stock down. Let's go over the things that have to happen for Eventbrite to pump up the volume in its sophomore year.
Image source: Eventbrite.
Source Fool.com
