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Why StubHub Stock Tanked by 10% Today

TheMotleyFool

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Why StubHub Stock Tanked by 10% Today: https://g.foolcdn.com/editorial/images/883355/person-seated-at-a-desk-with-two-pc-monitors-holding-head-in-hands.jpg

StubHub Holdings (NYSE: STUB) stock wasn't quite a golden ticket on Thursday. Investors sold out of the event ticketing company's equity rather aggressively after it released a dispiriting earnings report. The shares closed the day more than 10% down in price.

This, despite StubHub posting strong growth numbers in its second quarter. It took in revenue of just over $573 million in the period, for a 33% year-over-year increase. That was on the back of a 34% rise in gross merchandise sales (GMS) to $3.1 billion. Much of these gains, however, came from soccer's World Cup.

Image source: Getty Images.

Source Fool.com