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Why StubHub Stock Was a Flop Today

TheMotleyFool

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Online event ticket reseller StubHub (NYSE: STUB) had an awful start to the stock trading week. The company's shares were aggressively sold off by investors, resulting in a nearly 14% decline in price on Monday. That compared most unfavorably to the relatively modest (0.9%) fall of the S&P 500 index.

The catalyst was a report in the Financial Times published and updated on Monday. Citing unnamed "government and industry figures," the newspaper reported that politicians in the U.K. aim to legally prohibit the resale of tickets at prices higher than their original value. The proposed ban is expected to be introduced by lawmakers on Wednesday, according to the story's sources.

Image source: Getty Images.

Source Fool.com

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