StubHub (STUB) Recovers From Losses on Bargain-Hunting

We recently published Market in Pain? Not For These 10 Celebrating Stocks. StubHub Holdings Inc. (NYSE:STUB) is one of the top performers on Tuesday.

StubHub snapped a three-day losing streak on Tuesday, jumping 7.98 percent to close at $18.80 apiece as investors resorted to bargain-hunting following the previous days’ losses.

StubHub Holdings Inc. (NYSE:STUB) is a newly listed company that debuted on the stock market only last week. During its IPO, the company, however, immediately declined as investors hungered for higher growth stocks such as those in the technology and AI sectors.

The company was able to raise $800 million from the issuance of 34 million shares to the public. It said it planned to use the proceeds from the offer to pay down debt, while the balance will be allocated for general corporate purposes.

Founded in 2000, StubHub Holdings, Inc. (NYSE:STUB) is a marketplace where people can buy and sell tickets online for live events.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.